AP3 reports stable performance – and is focusing on building for the future

Staffan Hansén, CEO AP3:

“Global equity markets had a clear upward trajectory during the year, but there were also several bumps in the road that had investors fluctuating between hope and disappointment. Despite the volatile year, AP3 reports a stable performance.”

Highlights of 2023

• Targets and action plans were defined in AP3s focus areas: corporate governance, climate, human rights and biodiversity.
• The procurement of new system infrastructure was completed, which is an important step in future-proofing the fund’s operational support.
• A new Head of Asset Management was recruited, with Jonas Thulin replacing Pablo Bernengo, who left AP3 at the end of the year.

AP3’s key ratios	31.12.2023	31.12.2022
Fund capital at end of year	499.8	468.4
Net payments to pension system, SEK bn	4.8	4.7
Net result, SEK bn	36.2	-29.2
Return after expenses, %	7.8	-5.8
Total asset management costs, %	0.07	0.08
Asset management costs excluding commission expenses, %	0.06	0.06
Annual average return after expenses, 5 yrs, %	9.6	8.1
Annual average return after expenses, 10 yrs, %	8.7	9.3

Annual Report AP3 2023

For further information, please contact:

Lil Larås Lindgren, Head of Communications. Tel.: 08 555 17 123 lil.lindgren@ap3.se

Read more about Third Swedish National Pension Fund (AP3) at www.ap3.se/en/