News archive

Optimism and stabilisation as visibility improves

Carefully balanced long-term as well as medium-term portfolio positioning combined with a steadfast focus on cost-efficiency generated a return of 5.0 per cent after expenses in the first half of 2024. Net investment income was SEK 22.7 billion and assets under management totalled SEK 476.2 billion at mid-year.

AP Funds strengthen the Swedish income pension system by adding SEK 142 billion

The First-Fourth AP Funds performed well in 2023 and strengthened the financial position of the income pension system by SEK 142 billion. The result corresponds to an average return of 8.1 per cent. At year-end, the four funds managed total assets of SEK 1,880 billion. The net payments of the AP Funds to the pension system totalled SEK 19 billion. This contributes strongly to the stability of the income pension system and its mission to maximise benefits for current and future pensioners.

On the brink of a new era

Global fixed-income and equity markets recovered in 2023, after the sharp market downturns of the previous year. The year alternated between substantial upturns and sharp market downturns as investors tried to assess interpret the situation, and deal with the increased volatility. With carefully considered portfolio positions and a steady focus on implementation, Första AP-fonden achieved a return of 9.1 per cent, which corresponds to net investment income of SEK 38.0 billion.

New board member in Första AP-fonden

The government has appointed Gunilla Hellqvist as new members of the Board of Directors at Första AP-fonden (AP1).

Looking ahead during a time of transition

In the first half of 2023, global-fixed income and equity markets recovered from the sharp market downturn of the previous year. It seemed as if the world’s investors struggled to interpret risk, and between prolonged periods of slow activity, the tentative upturns grew almost unnoticeably stronger. Despite an uncertain and volatile market, Första AP-fonden contributed positively to the stability of the income pension system with a return of 6.6 per cent and reported net investment income of SEK 27.8 billion. Assets under management totalled SEK 446.4 billion at mid-year.

New board members in Första AP-fonden

The government has appointed Lars Fresker and Linda Jonsson as new members of the Board of Directors at Första AP-fonden (AP1).

Anna Magnusson appointed new Chief Active Ownership Officer at Första AP-fonden

Anna Magnusson has been appointed the new Chief Active Ownership Officer at Första AP-fonden (AP1). Anna comes from a role as specialist in corporate governance at Alecta and will take up her position at AP1 on June 1st, 2023.

Jenny Gustafsson recruited as Head of the AP Funds’ Council on Ethics

Jenny Gustafsson has been appointed as the new Head of the AP Funds’ Council on Ethics. Jenny joins the Council from AMF and will lead the work of further strengthening the Council and contributing both to value creation in the income pension system and to more sustainable societies. The recruitment is part of the development of the Council.

AP Funds’ Council on Ethics playing a key role in enabling good outcomes when the focus is on sustainability

The AP Funds’ Council on Ethics had a highly active 2022, with more than 3,200 companies being screened for possible violations and incidents. One project that was successfully closed in 2022 centred on child labour in the cocoa sector. A further 16 new dialogues were initiated. In eight proactive projects the focus is on human rights, the climate and corporate governance and 86 reactive company dialogues are ongoing, aimed at addressing and preventing serious accidents and incidents linked to lack of sustainability.

Focus on the long term and portfolio protection amid high uncertainty

Global fixed income- and equity markets showed negative returns in 2022, driven by the breakout of war, lingering post-pandemic effects, high inflation and rising interest rates. Energy dependencies and climate transition ambitions posed difficult short-term and long-term trade-offs for societies and corporates. Through active asset management focused on protecting the portfolio and limiting downside risks, Första AP-fonden reports a return of minus 8.6 per cent corresponding to net investment income of SEK -39.9 bn during 2022. The Fund exceeds its target of 3 per cent real returns over rolling ten-year periods.