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AP4 records -2.5% return for the first half of the year
Investors - JULY 14, 2020

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AP4 records -2.5% return for the first half of the year

by Kali Persall

AP4, the fourth Swedish national pension fund, saw its returns fall 2.5 percent in first half 2020, bringing the fund’s total capital down from SEK 418 billion ($45 billion) at the beginning of the year to SEK 403.2 billion ($43 billion) as of June.

In addition, the portfolio’s active return during the first half of the year was lower than the return for AP4’s benchmark portfolio, by –0.7 percentage points.

Total costs indexed on a full-year basis amounted to 0.09 percent of average assets under management. AP4’s cost level is just under half compared with corresponding pension funds in an international comparison.

“A negative result never feels satisfactory, but given the circumstances, our return for the first half of the year can still be regarded as a passing grade for how we have managed to deal with the spring’s market turbulence,” said Niklas Ekvall, CEO of AP4. “The scope of the impact on the real economy during the first half of 2020 h

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