AP3 logs negative returns for first half of 2022

The Third Swedish National Pension Fund (AP3) recorded a negative return of -7 percent after expenses for the first half of 2022.

In addition, AP3's fund capital amounted to SEK 464.9 billion ($43.5 billion), which represented a decrease of SEK 37.3 billion ($3.5 billion).

As of June 30, AP3 had an 8.4 percent return on its alternative investment portfolio, which includes real estate. The real estate portfolio was valued at SEK 88.9 billion ($8.3 billion).

The pension fund is undergoing several major leadership changes that could help shape its future progress. In the spring, AP3 appointed a sustainability manager and formed a special sustainability group within asset management. In July, the pension fund also appointed Staffan Hansén as its new CEO, effective on or before Dec. 1.

Hansén, who now serves as CEO of SPP Pension & Försäkring and is an executive management member of Storebrand Group, succeeds Kerstin Hessius, who in March