We invest pension capital to make it grow.

This is
Första AP-fonden

Första AP-fonden (AP1) manages part of the capital in Sweden’s national income pension system. The long-term return should be at least 4 per cent.

Our assets of SEK 324 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.

Net assets (SEK)
as of December 31 2018

324 bn

Average real annual return
last ten years

7.4 %

Transfers to pension system
during 2018

6.8 bn

Latest news

News archive

Decision regarding the procurement of Investment Management services for Global Emerging Markets Equities

In the procurement for External Management of Global Emerging Markets Equities (reg.no EXT2018:25) Första AP-fonden has decided to approve several managers.

Första AP-fonden Annual Report 2018: Exceeding the long-term goal

Första AP-fonden’s (AP1’s) net investment income for 2018 as a whole amounted to SEK -2,074 million (29,349) after expenses. This equals a return of -0.7 per cent (9.6). Total net assets amounted to SEK 324 billion at the year-end. The average annual real return after expenses for the past ten-year period is 7.4 per cent, which is higher than the target of 4.0 per cent.

Changes to the AP Funds Act

On 1 January 2019, the rules in the National Pension Insurance Funds (AP Funds) Act changed. For example, a new goal has been introduced that the First, Second, Third and Fourth AP Funds must contribute to sustainable development by managing their funds in an exemplary way.

Swedish National Pension Fund Första AP-fonden (AP1) to Measure Sustainability Through Arabesque S-Ray®

Arabesque S-Ray® and AP1 are working closely together to develop a sustainability score assessing the compliance of companies with Human Rights.

“Having access to several different perspectives is a great strength”

Patrik Nyman och Dmytro Sheludchenko work with asset management to make the pension fund grow.

Working at AP1

An enriching collaboration: Dmytro Sheludchenko and Patrik Nyman combine fresh thinking and experience.

Exceeding the long-term goal

The average annual real return after expenses for the past ten-year period is 7.4 per cent, which is higher than the target of 4.0 per cent.

New law paves the way for higher returns

Första AP-fonden’s range of investments is governed by the National Pension Insurance Funds (AP Funds) Act. A change in the law is expected to improve the ability to act in pensioners’ best interests.

Photo: Melker Dahlstrand/Sveriges Riksdag.

“The Fund is persistent and makes demands”

“AP1 is a good owner that is persistent, but also places clear demands on sustainability and profitability,” says Mikael Granath, MD of real estate company Willhem.

Photo: Willhem