AP3 Tredje AP-fonden

AP3 present a strong portfolio in challenging times

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  • AP3 reported a net result of SEK -35,347 (48,133 million) for the first six months of 2022.
  • The total return was -7.0 (11.4%) after expenses.

  • The annualised asset management cost ratio was 0.08% (0.09), of which operating expenses totalled 0.05% (0.05)

  • Fund capital was SEK 464,927 (502,287 at 31 Dec 2021), a decrease of SEK 37,360 million.

  • SEK 2,013 million (4,220) was paid from fund capital to the Swedish Pensions Agency during the period to cover the difference between paid-in pension contributions and outgoing pensions and to meet pension system costs.

  • AP3 has generated an average annual return of 8.5% (11.2) over the last five years and 9.9% (9.7) over the last 10 years.

  • Return outperformed the LSP benchmark portfolio by 5.6 percentage points during the period.
  • AP3 Stewardship report is published in connection to the half-year report (soon in English)

  • AP3 appointed, this spring, a Head of Sustainability and formed a special sustainability group in asset management to further strengthen the integration of sustainability work into portfolio management. An important part consists of defining quantitative and qualitative goals as well as activities whose purpose is to achieve the long-term goals set by the Board of Directors.

Kerstin Hessius, CEO AP3:

”The rapid reversal from 2021, which ended on a positive note, has been a bruising first half of the year on the financial markets, with both equities and bonds seeing negative returns. Given these circumstances, AP3 has achieved relatively good results, with a return of -7% after costs.”

“This is my last year as CEO of AP3, and I’ll be passing over to Staffan Hansén in late autumn this year. It is with confidence that I hand over a professional organisation, with highly skilled employees and a strong portfolio that is well positioned to contribute to the pension system going forward.”

The interim report 

Summary of AP3's interim results at 30 June 2022

 

30 June 2022

30 June 2021

31 Dec 2021

Fund capital at 30 June, SEK bn

464.9

466.9

502.3

Net result for the period, SEK bn

-35.3

48.1

86.8

Net payment to the pension system, SEK bn

-2.0

-4.2

-7.5

Fund capital at 1 January, SEK bn

502.3

423.0

423.0

       

Return after expenses, %

-7.0

11.4

20.7

Real return after expenses, %

-11.7

10.8

16.2

Asset management cost ratio, operating expenses, percentage of assets under management*

0.05

0.05

0.05

Asset management cost ratio, commission expenses, percentage of assets under management*

0.03

0.03

0.03

Total asset management cost ratio, percentage of assets under management*

0.08

0.09

0.08

Annualised return after expenses, 5.0 years, %**

8.5

11.2

11.3

Annualised return after expenses, 10.0 years, %**

9.9

9.7

11.1

Annualised real return after expenses, 10.0 years, %**

8.0

8.7

9.8

* The interim report measures the asset management cost ratio on a full-year basis
** The interim report also shows annualised return for 10.0 and 5.0 years respectively.

For further contact:

Lil Larås Lindgren, Head of Communications, +46 08-555 17 123 lil.lindgren@ap3.se

AP3’s press room  

 

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About AP3 Tredje AP-fonden

AP3 Tredje AP-fonden
AP3 Tredje AP-fonden
Box 1176
111 91 Stockholm, SWEDEN

+46 (0)8 555 17 100http://www.ap3.se

AP3 är en av fem buffertfonder inom det svenska allmänna pensionssystemet. Per den 31 december 2021 förvaltade fonden 502,3 miljarder kronor. Fonden har riksdagens uppdrag att förvalta fondkapitalet till största möjliga nytta för pensionssystemet genom att skapa en hög avkastning till en låg risknivå på ett föredömligt sätt. Läs mer om Tredje AP-fonden på ap3.se

 

 

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