Sweden’s AP1 earns 10.9% return

Swedish pension Första AP-fonden’s (AP1) has closed out the first half of 2021 with a 10.9 percent financial return. At the end of June, the fund had SEK 431.5 billion ($50 billion) in assets under management.

“The fund’s constructive view of risk-taking was well rewarded financially during the first six months of the year,” said Kristin Magnusson Bernard, CEO of AP1. “We have been well positioned to benefit from the prevailing market situation, and most asset classes in the portfolio contributed positively.”

Bernard said the considerable exposure to global and Swedish equities was the main return driver; however, real estate and other alternative investments also contributed positively. In addition, sustainability and “green” investments continue to be a dominant market theme.

This spring, AP1 invested $400 million in Northvolt, a Swedish battery developer and manufacturer, jointly with AP2, AP3 and AP4.