Swedish pension fund Andra AP-fonden (AP2) has recorded a 10.2 percent return, after costs, for the first half of 2021.
This brings AP2’s assets to SEK 421.2 billion ($48 billion), representing the best half-year result ever achieved by the fund.
“Macroeconomic growth in the half-year was characterized by a gradual economic recovery after the sharp cyclical decline in 2020 as a consequence of the pandemic,” said Eva Halvarsson, CEO of AP2. “Primarily, the fund’s equity portfolios and the portfolio of private equity funds gave the strongest returns during the first half-year.”
Halvarsson noted that a number of changes were made to the portfolio during the first half of the year. As a consequence of the fund’s process for managing risks associated with human rights abuses, it was decided that a number of countries will no longer be included in the emerging-market bond index.
In addition, AP2 is developing a sustainable infrastructure portfolio
