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Strong net result – Second AP Fund clearly exceeds targeted long-term return

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The Second Swedish National Pension Fund/AP2 has posted a net result of SEK 28.6 billion for 2012, bringing its total capital assets to SEK 241.5 billion. Return on investment for the year, excluding costs, was 13.5 percent. Return relative to benchmark index amounted to 1.1 percent, excluding alternative investments and costs. Over the past ten years, the Fund has generated an average annual return of 7.6 percent.

  • The Second AP Fund’s capital assets totalled SEK 241.5 (216.6) billion on December 31st 2012, against which net outflows to the national pension system were charged in an amount of SEK -3.8 (-1.2) billion.
  • The Fund posted a net result for the year of SEK 28.6 (–4.6) billion.
  • The Fund’s return on the total portfolio was 13.5 (-1.9) percent, excluding commission costs and operating expenses. Including these costs, the portfolio generated a return of 13.3 (-2.1) percent.
  • The relative return on the portfolio of quoted assets, excluding alternative investments and costs, amounted to 1.1 (-0.3) percent.
  • Return on alternative investments was 13.9 (8.4) percent.
  • In the past ten years, the Second AP Fund has generated an average annual return of 7.6 percent. Adjusted for inflation, this corresponds to an annual real return of 6.2 percent, as compared to the Fund’s long-term targeted average of 5 percent.

“At the close of the year, we can state that the Second AP Fund’s capital assets have never been greater. With a return of no less than 13.5 percent and fund capital amounting to SEK 241.5 billion, in spite of the continued turbulence on financial markets, we have demonstrated that our long-term strategy is working well,” states CEO Eva Halvarsson, Second AP Fund.

The English version of the AP2 Annual Report 2012 will be available at www.ap2.se from the beginning of March.


For further details, contact CEO Eva Halvarsson, Second AP Fund, on 46 (0)31-704 29 00 or Ulrika Danielson, Head of Communications, on +46 (0)31-704 29 29.

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