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 420.1 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.
The first half of 2022 was marked by Russia’s invasion of Ukraine. The war, in conjunction with lingering pandemic lockdowns, disrupted supply chains and led to a shortage of energy and intermediate goods. Soaring inflation prompted global central banks to tighten their monetary policies more than previously expected. Uncertainty over future developments and the complex risk landscape led to a sharp and simultaneous drop in fixed income and equity markets, a historically unusual pattern.
The Government has appointed Annika Andersson and Erica Sjölander as new members of the Board of Directors at Första AP-fonden (AP1).
The Board of Polhem Infra has appointed Karin Karlström as new CEO of the company. Karin has been acting CEO since November 2021 and will take up the role of CEO on the 4 of May. Polhem Infra is owned by the First, Third and Fourth Swedish National Pension Funds and invests in unlisted Swedish companies focusing on essential infrastructure.
Together, the AP Funds (AP1-AP4) achieved their best result ever of SEK 316 billion. This significantly contributes to the stability of the income pension system and the mission to be of the greatest possible benefit to current and future pensioners.
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.
The average annual real return after expenses for the past ten-year period is 9.0 per cent, which is higher than the target of 3.0 per cent.
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.
“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.