Första AP-fonden contributes to pension system stability
Total return after expenses on Första AP-fonden’s portfolio was 20.2 percent in 2009. The positive result can be attributed to the strong development in the stock market and an increased focus on strategic asset allocation.
The Fund had net assets under management of SEK 202.3 billion, an increase of SEK 30.7 billion. Net assets under management were allocated with 58 percent in equities, 37 percent in fixed income and 5 percent in alternative investments. The return on equi-ties was 33.5 percent and 7.6 percent on fixed income.
“As a direct result of the good return in 2009 we have now recouped much of the negative value growth we had 2008. The net investment income is the highest we have had since the inception of the fund in 2001.
“The Fund’s return over the past five years exceeds the income index, which means that we are again contributing to the stability of the pension system.
“In addition we have lowered our costs by well over SEK 100 million annually, which will be apparent from 2010,” says Johan Magnusson, Managing Director of Första AP-fonden.
An English version of the Annual report will be published later in February at www.ap1.se/en/Financial-information-and-press/Reports