Young employees give new perspectives

New recruits at Första AP-fonden (AP1) are plunged straight into the core business and have an opportunity to influence the results. For AP1, new perspectives help to develop asset management.

AP1’s mission is to create strong returns on ca SEK 340 billion in the Swedish national pension system.

“The goal is clear and applies to everyone here. It’s easier to get into the swing of work if you know why you’re doing what you’re doing,” says Dmytro Sheludchenko.

He has been with AP1 for a few years and works in quantitative analysis, the field of asset management that develops and uses mathematical methods.

“We turn overriding goals into models so that they can be used systematically for our investments,” says Dmytro, a qualified mathematician who chose finance as an industry where he could apply his maths to real life.

“The possibility for doing that is particularly big at AP1. The Fund’s board and management decide how large the return should be, but then our group works together to decide how we can contribute to achieving that target, which is great. It’s also nice that my manager and other colleagues listen carefully to my ideas about what we can do.”

Ongoing development is important to AP1. This is why Dmytro’s manager, Patrik Nyman, sees great benefit in taking the views of junior employees on board.

“We constantly question whether we’ve analysed the investments correctly. New angles of approach help us to find new answers. Having access to several different perspectives is a great strength,” says Patrik.

Patrik Nyman is responsible for allocation, i.e. the distribution of capital between different types of asset. He has worked in the AP Fund system since 1992 and therefore has extensive experience of the field.

“I may be the one who’s ultimately responsible in our group, but there are hundreds of different ways of approaching a problem. I ask my co-workers a lot of questions about how they’re thinking.”

Dmytro feels this is a good thing.

The goal is clear and applies to everyone here.

“It’s very different to working with a boss who just says, ‘Do this’. Here we maintain a constructive dialogue, and you can take responsibility if you want to.”

AP1 offers internships, which are practical placements for young employees. There is also an ambition within the Fund to tutor academic theses.

There are also good opportunities here to develop alongside knowledgeable colleagues. The organisation is small and flat, and that allows daily collaboration across fields of expertise.

At the same time though, AP1 is a major global investor, with an extensive network outside of Sweden.

“It’s great working in an international environment and having a dialogue with the world’s leading asset managers,” Dmytro Sheludchenko concludes.

2018

Swedish National Pension Fund Första AP-fonden (AP1) to Measure Sustainability Through Arabesque S-Ray®

Arabesque S-Ray® and AP1 are working closely together to develop a sustainability score assessing the compliance of companies with Human Rights.

Young employees give new perspectives

New recruits at Första AP-fonden (AP1) are plunged straight into the core business and have an opportunity to influence the results.

Financial institutions launch cutting-edge research project to integrate climate change into strategic investment decisions

The financial institutions AP1, a.s.r., OPTrust, Pensioenfonds van de Metalektro (PME) and Philips Pensioenfonds, supported by Ortec Finance - the provider of investment decision technology and solutions - announce the launch of their climate-savvy Asset Liability Management/Strategic Asset Allocation (ALM/SAA) pilot project.

Green financing for Willhem AB

Första AP-fonden’s (AP1’s) wholly owned housing company Willhem is planning to issue a ‘green bond’ to fund its environmental initiatives.

Första AP-fonden’s return for the first half of 2018

Första AP-fonden’s (AP1’s) net investment income for the first half of 2018 amounted to SEK 8.5 billion (16.1) after expenses.

Important for a board member to dare to say no

The nomination committee helps ensure that the Board of Directors is comprised of the right areas of expertise.

AP1 invests in new Emerging Markets Equity Impact fund of BlackRock

BlackRock has launched the BlackRock Emerging Markets Equity Impact Fund, responding to Swedish pension fund AP1’s wishes to invest with sustainability considerations in the emerging markets.

Sustainable investments on emerging markets

Första AP-fonden (AP1) is investing in a new, data-driven fund with a sustainability emphasis, with investment management company BlackRock. The focus is on emerging markets.

The Council on Ethics focuses on counteracting corruption

The Council on Ethics of the Swedish National Pension Funds (the Council) celebrated ten years in 2017. During these ten years, the Council has influenced global portfolio companies to improve their work and information regarding environmental, social issues and corporate governance through corporate dialogues.

Första AP-fonden’s return for 2017 was 9.6 per cent after expenses

Första AP-fonden’s (AP1’s) net investment income for 2017 as a whole amounted to SEK 29.3 (27.0) billion after expenses.

2017

Climate Action+

Första AP-fonden (AP1) has signed the Climate Action 100+, a collaborative five-year global initiative.

Hermes Investment Management wins $400 million Global High Yield mandate

Hermes Investment Management, the £30.1 billion manager (30.6 2017), has been appointed to manage a $400 million Global High Yield credit investment mandate by Första AP-Fonden (AP1), one of five buffer funds in the Swedish national income pension scheme.

Första AP-fonden’s return for the first half of 2017 was 5.2 per cent after expenses

Första AP-fonden’s (AP1’s) net investment income for the first half of 2017 amounted to SEK 16.1 billion (10.6) after expenses. This equals a return of 5.2 per cent (3.5).

The Ethical Council Annual Report 2016 – Human rights continues to be in focus

The Ethical Council of the Swedish AP Funds celebrates ten years 2017. During these ten years the Council has through engagement encouraged the AP Funds' global portfolio companies to improve their work on environmental issues, human rights and corruption.

Elo, Första AP-fonden and Trevian establish a joint venture to invest in Finnish real estate

Elo Mutual Pension Insurance, Första AP-fonden (AP1) and Trevian Asset Management Oy have agreed to establish a joint venture company which invests in the Finnish real estate market.

Första AP-fonden’s return for 2016 was 9.3 per cent after expenses

Första AP-fonden’s net investment income for 2016 as a whole amounted to SEK 27.0 billion (11.3) after expenses.

2016

Första AP-fonden accepts GE’s bid for Arcam

Första AP-fonden (AP1) has decided to accept General Electric’s (GE) bid for Arcam. The bid expires tomorrow Friday 14 October.

Första AP-fonden’s interim report January – June 2016

Första AP-fonden’s net investment income after expenses for January – June 2016 amounted to SEK 10.6 billion. Return after expenses was thus 3.5 per cent.

Första AP-fonden’s 2015 annual report

Första AP-fonden’s net investment income after expenses for 2015 amounted to SEK 11.3 billion. The return was 4,0 percent after expenses, which is in line with the Fund’s target.

2015

AP Funds to co-ordinate carbon footprint reporting

The Swedish AP Funds, the First, Second, Third, Fourth, Sixth and Seventh AP Funds, have agreed to coordinate the way carbon footprints are reported.

Första AP-fonden’s six-month report

New initiatives and targets met by a margin

Strategic partnership to invest in European office properties

First and Second Swedish National Pension Fund, together with TIAA-CREF, create strategic partnership to invest in European office properties

AP1 part of consortium acquiring Fortum Distribution AB

Första AP-fonden har som del av ett konsortium bestående av Borealis Infrastructure, Tredje AP-fonden (AP3), Folksam med dotterbolag och Första AP-fonden (AP1) (”Konsortiet”) idag ingått avtal om att förvärva Fortum Distribution AB, Fortums elöverföringsverksamhet i Sverige.

Första AP-fonden’s annual report: High return benefits the pension system

Första AP-fonden’s net investment income after expenses for the 2014 full year amounted to SEK 36.4 billion. Return after expenses was 14.6 per cent.

2014

Första AP-fonden hires Kaj Martensen

Första AP-fonden (AP1) has hired Kaj Martensen from January 1, 2015.

Första AP-fonden’s semi-annual report

Good return makes valuable contribution to the pension system

Första AP-fonden’s annual report: Continued strong return

Första AP-fondens resultat 2013 uppgick till 25 678 mkr efter kostnader.