AP4 reports 9.9% return for first half of the year

The Fourth Swedish National Pension Fund (AP4) has recorded a 9.9 percent net return for the first half of 2021.

As of June 30, AP4’s total fund capital was SEK 489.8 billion ($56.7 billion), compared with SEK 449.4 billion ($52 billion) at the beginning of the year.

The pension fund said the portfolio’s active return during the first half of the year was higher than the return for AP4’s benchmark portfolio by 0.8 percentage points. Currency exposure at the end of the period was 21.0 percent of fund capital, which was unchanged since the beginning of the year.

“AP4’s asset portfolio generated a favorable return of 9.9 percent during the first half of 2021 after costs following an equally solid return of 9.6 percent for the full year 2020,” said Niklas Ekvall, CEO of AP4. “These are historically favorable returns, but they should also be viewed against the background of the massive financial and monetary policy stimulus measures that were introduced