The first half of 2021 was characterised by high global capital market activity backed by a rapid economic rebound and strong risk appetite. Första AP-fonden’s (AP1) financial return for the first half of 2021 was 11.0 per cent before expenses and 10.9 per cent after expenses. A total of SEK 4.2 billion was transferred to the income pension system and at the end of June 2021 the Fund had assets under management of SEK 431.5 billion.
4 to 1 Investments KB, a company owned jointly by the Swedish National Pension (AP) Funds (AP1, AP2, AP3, AP4), is investing USD 400 million in Northvolt by participating in $2.75 billion private placement.
The Council on Ethics sees clear results from collaborating on impact processes. In 2020, the privacy issues of tech companies and impact on climate transition were high on the agenda. It is clear that collaboration is crucial for having an impact on important issues requiring development and change.
AP1’s CEO Kristin Magnusson Bernard is now a member of the Financial Stability Contact Group (FSCG) of the European Central Bank. The FSCG serves as a forum for discussing issues related to euro area financial stability and is chaired by the Vice-President of the ECB, Mr. Luis de Guindos.
During a challenging year AP1 delivered a high return of 9.7 per cent after costs, with net investment income amounting to SEK 34.8 billion. SEK 7.9 billion were transferred to the national income pension system. The Fund’s year-end assets under management amounted to SEK 392.6 billion. Costs were cut by SEK 123 million, a decrease of 29 per cent year-on-year, and the equity portfolio’s carbon footprint was reduced by 46 per cent during the same period.
AP1, the leading Swedish pension scheme, and TOBAM, the Paris-based research driven quantitative asset manager, today announce the adoption of a new fossil-free approach to emerging market equity and global high yield exposures.
Today, the AP fund owned, Polhem Infra have entered into a binding agreement to acquire Telia Carrier, a world leading provider in back-bone connectivity for data traffic. With the acquisition, Polhem Infra will, through Telia Carrier, own and operate more than 74,000 km of fiber network with 320 connection points in the world.
The COVID-19 pandemic has changed the playing field for the global economy and affects us all, directly or indirectly. For Första AP-fonden (AP1) the pandemic entailed some intensive activities during the spring, with constant evaluation of the allocation strategy based on a rapidly evolving situation, while at the same time measures were taken to safeguard the health and safety of the Fund’s employees.
The Council on Ethics of the Swedish National Pension (AP) Funds Annual Report 2019.