Första AP-fonden (AP1) manages part of the capital in Sweden’s national income pension system. The fund’s medium-term return target on the total portfolio after costs is 3.0 per cent real per year measured over rolling ten-year periods starting in 2020. The long-term return target (over 40 years) is 4 per cent average annual real return after costs.
Our assets of SEK 476,2 billion are distributed across a global portfolio consisting of equities, fixed-income securities, real estate, infrastructure, private equity funds and hedge funds.
We invest sustainably and long-term, and practise responsible ownership.
Carefully balanced long-term as well as medium-term portfolio positioning combined with a steadfast focus on cost-efficiency generated a return of 5.0 per cent after expenses in the first half of 2024. Net investment income was SEK 22.7 billion and assets under management totalled SEK 476.2 billion at mid-year.
The First-Fourth AP Funds performed well in 2023 and strengthened the financial position of the income pension system by SEK 142 billion. The result corresponds to an average return of 8.1 per cent. At year-end, the four funds managed total assets of SEK 1,880 billion. The net payments of the AP Funds to the pension system totalled SEK 19 billion. This contributes strongly to the stability of the income pension system and its mission to maximise benefits for current and future pensioners.
Global fixed-income and equity markets recovered in 2023, after the sharp market downturns of the previous year. The year alternated between substantial upturns and sharp market downturns as investors tried to assess interpret the situation, and deal with the increased volatility. With carefully considered portfolio positions and a steady focus on implementation, Första AP-fonden achieved a return of 9.1 per cent, which corresponds to net investment income of SEK 38.0 billion.
The government has appointed Gunilla Hellqvist as new members of the Board of Directors at Första AP-fonden (AP1).
On AP1’s LinkedIn page you will find news, comments and vacancies. You can also meet some of our employees, who share what it’s like to work at AP1.
Emil Danmo