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.
AP1, AP3 and AP4 (Swedish National Pension Funds) form a joint company, Polhem Infra, for investments in unlisted Swedish companies focusing on infrastructure.
Första AP-fonden (AP1) publishes its Ownership Report (English version) for 2018 today. Developments in the field of sustainability continued at a fast pace during the year. Intensive preparations were made ahead of the changes to the AP Funds Act, in partnership with the other AP Funds.
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’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.
Polhem Infra will invest in businesses that manage or provide social services and assets such as renewable power production, energy storage, energy distribution and digital infrastructure. Polhem Infra is backed by public Swedish pension capital through AP1, AP3 and AP4.
Kerstin Hessius, CEO of AP3, Johan Magnusson, CEO of AP1 and Niklas Ekvall, CEO of AP4.
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.
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.