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 338 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 June 30 2018

338 bn

Average real annual return
last ten years

6.3 %

Transfers to pension system
first half of 2018

3.3 bn

Latest news

News archive

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.

Young employees give new perspectives

New recruits at Första AP-fonden (AP1) are plunged straight into the core business and have an opportunity to influence the results.

Financial institutions launch cutting-edge research project to integrate climate change into strategic investment decisions

The financial institutions AP1, a.s.r., OPTrust, Pensioenfonds van de Metalektro (PME) and Philips Pensioenfonds, supported by Ortec Finance - the provider of investment decision technology and solutions - announce the launch of their climate-savvy Asset Liability Management/Strategic Asset Allocation (ALM/SAA) pilot project.

Green financing for Willhem AB

Första AP-fonden’s (AP1’s) wholly owned housing company Willhem is planning to issue a ‘green bond’ to fund its environmental initiatives.

“Being an Equities Manager is a social profession”

Sophie Larsén is an Equities Manager, whose goal is to make the pension fund grow.

“The Fund’s long-term approach enables a level of specialisation. I personally work with midcap in Sweden and healthcare companies globally. It’s an interesting combination.”

Working at AP1

Sophie Larsén is an Equities Manager in Sweden and globally.

Half-year that exceeds the target

Net investment income of SEK 8.5 billion for the first six months of 2018 means that AP1’s return exceeds the long-term target of 4.0 per cent. Net assets increased to SEK 338 billion.

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