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 352 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.
On 2 September, Första AP-fonden (AP1) announced that the board had decided to dismiss Johan Magnusson from his role as Chief Executive Officer due to his violation of the internal regulations of the fund. The fund has now concluded its assessment of the need for confidentiality in accordance with the Swedish Public Access to Information and Secrecy Act in relation to the information, and has decided to publish further details.
The Board of Directors of Första AP-fonden (AP1), Sweden’s First National Pension Fund, has decided to dismiss Johan Magnusson from his post as CEO with immediate effect.
Första AP-fonden’s (AP1’s) positive net investment income of SEK 31.4 billion for the first six months of 2019 entails an increase in total net assets to SEK 352 billion as per 30 June. AP1 thereby exceeds the long-term target of a real return after expenses of 4.0 per cent over a rolling ten-year period. During the first six months of 2019, SEK 3.0 billion was transferred to the income pension system.
Första AP-fonden har beslutat att acceptera det publika budet på Oriflame om 227 kronor per aktie.
“The Fund has a clearly defined goal: to create returns for the pension system. It’s easier to get into the swing of work if you know why you’re doing what you’re doing,” says Dmytro Sheludchenko.
Patrik Nyman and Dmytro Sheludchenko
The average annual real return after expenses for the past ten-year period is 7.7 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.