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 465.8 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 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.
The Fund’s return after expenses for 2021 amounted to 20.8 per cent, the highest figure in the 20-year history of the Fund. Through active decision-making and well-utilised risk mandates the Fund benefited from high market activity which led to Första AP-fonden (AP1) reporting a net investment income of SEK 80.7 billion. The result further strengthened the Swedish income pension system and increased AP1’s total net assets to SEK 466 billion. Cost-efficiency improved further and the Fund’s sustainability work continues to evolve.
The First, Second, Third and Fourth AP funds will jointly conduct a strategic review of the Council on Ethics, as ESG and responsible investment practices are increasingly integrated into the AP Funds' asset management strategies and objectives. In connection to this, John Howchin, Secretary General of the Council on Ethics since 2009, announces that he is leaving his role.
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
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.
Photo: Melker Dahlstrand/Sveriges Riksdag.
“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