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AP3, Third Swedish National Pension Fund, reports strong results for 2016

Highlights of 2016 · AP3 reported a net result of SEK 27,981 million (19,643) for the 12 months ended 31 December 2016. · Return totalled 9.5% (6.9) before expenses and 9.4% (6.8) after expenses. · The risk categories Equities, Inflation (including real estate) and Currencies made the largest positive contributions to income. · AP3 made payments of SEK 6,637 million (4,944) to the pension system during the year. · Fund capital at year-end stood at SEK 324,375 million (303,031). · The asset management cost ratio was 0.12% (0.12), of which operating expenses were 0.06% (0.

AP3 interim report for the six months ended 31 June 2016

·AP3 recorded a profit of SEK 4,206 million (18,483) for the first six months of 2016. ·Fund capital reached SEK 304,021 million, an increase of SEK 990 million (16,066) during the period. The Fund capital at 1 January 2016 was SEK 303,031 million. ·AP3 paid SEK 3,216 million (2,417) to the Swedish Pensions Agency during the first half of the year to cover a shortfall between incoming pension contributions and outgoing pensions. ·Total real return was 1.5% (6.5) before expenses and 1.4% (6.4) after expenses. The Inflation, Fixed Income and Currency risk categories

AP3 reports solid results for 2015

Correction i the fifth bullet regarding costs.Highlights of 2015 · AP3 reported income of SEK 19,643 million (34,977) for the 12 months ended 31 December 2015. · Return totalled 6.9% (13.8) before expenses and 6.8% (13.7) after expenses. The risk categories Equities, Inflation including real estate and Currencies made the largest positive contributions to overall return. · AP3 made payments of SEK 4,944 million to the pension system during the year. · Fund capital at year-end stood at SEK 303,031 million (288,332), an increase of SEK 14,699 million (29,857) from 31 December

AP3 reports solid results for 2015

Highlights of 2015 · AP3 reported income of SEK 19,643 million (34,977) for the 12 months ended 31 December 2015. · Return totalled 6.9% (13.8) before expenses and 6.8% (13.7) after expenses. The risk categories Equities, Inflation including real estate and Currencies made the largest positive contributions to overall return. · AP3 made payments of SEK 4,944 million to the pension system during the year. · Fund capital at year-end stood at SEK 303,031 million (288,332), an increase of SEK 14,699 million (29,857) from 31 December 2014. · The asset management cost ratio was 0.

Balder and the Third Swedish National Pension Fund forms a joint venture for investments in residential properties in Sweden

The listed property company Balder has together with the Third Swedish National Pension Fund decided to enter into a joint venture for investments in residential properties in Sweden. Housing market forecasts shows a great demand for residentials.The new residential company will focus primarily on investments in new production of rental properties in growth areas in Sweden. Except the three metropolitan regions, also growth areas with positive population development are in focus. The residential properties that are produced shall focus on environmently friendly production.    ‑ It is

AP3 recruits Portfolio Manager for External Management from the Riksbank

AP3 external management team is strengthening its team by recruiting Veronica Wahlberg as Portfolio Manager. Veronica is leaving her position at the Riksbank, Sweden's central bank, where she worked in the Monetary Policy Department and in the Markets Department running a wide spectrum of different analysis. Veronica’s background is Ålandsbanken and Kaupthing Bank working within manager research and manager selection. Veronica has a strong quantitative background and qualitative skills which makes her a great fit to AP3 External management team. The recruiting process aimed to find a

AP3’s result reached 18.5 billion with strong contribution from chosen investment strategy

For the first six months of 2015 AP3 posted a result of 18.5 billion corresponding to a return of 6.4% excluding costs. A passive index portfolio would, for the same period, have reached a return of 3.9%. Thus, the contribution to the pension system was 2.6 percentage points, corresponding to 7.4 billion.·AP3 generated a return of 6.4%, corresponding to a profit of SEK 18,483 million achieved for the first six months. ·Fund capital reached SEK 304,398 million, an increase of 16.1 billion during the period. 2,417 million was paid out to the Swedish Pensions Agency to bridge the

Consortium acquires Fortum Distribution AB

A Consortium consisting of Borealis Infrastructure, Third Swedish National Pension Fund (AP3), Folksam with subsidiaries and First Swedish National Pension Fund (AP1) (”The Consortium”) have today signed an agreement to acquire Fortum Distribution AB, Fortum Corporation's electricity distribution networks in Sweden.Kerstin Hessius, AP3 CEO, said: “This infrastructure investment is an excellent fit for the AP3 portfolio. We have been working on the transaction for more than 18 months and are delighted to have reached this successful deal. As a large pension fund with a long-term

AP3 reports strong results for 2014

– and publishes annual report containing pensions discussion and sustainability report· AP3 reported income of SEK 34,977 million (32,398), representing a total return of 13.8% before expenses and 13.7% after expenses. · Equities and currencies were the largest positive contributors to income. · Fund capital stood at SEK 288,332 million at year-end, up SEK 29,857 million from the prior year. · AP3 made payments to the pension system totalling SEK 5,210 million. · Since inception in 2001 the Fund has achieved its target of a 4% annual real return over time. · AP3 has

Interim report 1 January – 30 June 2014: AP3 reports income of SEK 16.6 billion and a doubling of fund capital since 2001

The Third Swedish National Pension Fund, AP3, has reported very strong incomeof SEK 16.6 billion for the six months ended 30 June 2014. This result lifts fund capital to arecord SEK 272,6 billion – double the level at the Fund's inception in 2001.Income totalled SEK 16,571 million (12,462) million, equivalent to a return of 6.5% (5.4) after expenses. Over the last five years, return for the period averages 8.2%. Commenting on the results, AP3 CEO Kerstin Hessius said: “Our asset management strategy has worked well, resulting in high returns and low costs compared with similar pension

Solid growth for AP3 in 2013

Press release 21 February 2014· AP3 reported net profit of SEK 32,398 million (22,638) in 2013. This represents a total return of 14.2% before expenses and 14.1% after expenses. · Fund capital stood at SEK 258,475 million (232,956) at year-end, up SEK 25,519 million from the prior year. A net deficit in pension system inflows against outflows resulted in AP3 paying out SEK 6,880 million to the system during the year to help cover the shortfall.  · Improved economic conditions, especially in the United States, provided the main backdrop to 2013. An easing of monetary policy

Interim report 1 January – 30 June 2013

Income for the six months ended 30 June totalled SEK 12,462 millionequating to a return of 5.4% after expenses.· The first six months of 2013 saw an initial surge in equity prices in many markets. However, volatility subsequently increased, bond yields rose and equity markets went into retreat. · Income for the six months ended 30 June totalled SEK 12,462 million (9,848), equating to a return of 5.4% (4.6) after expenses. · Fund capital stood at SEK 242,288 million at 30 June, an increase of SEK 9,332 million during the six months, and was negatively affected by payments of SEK 3,130

AP3 invests in new credit fund that integrates sustainability analysis

The Third Swedish National Pension Fund (AP3) is pleased to announce that it has initiated a relationship with Generation Investment Management and has invested 50 million USD in Generation’s new Global Credit Fund (The Fund). The Fund has a focus on performing companies that require debt financing for growth purposes. The Fund seeks to build relationships with companies that are embracing sustainability challenges and opportunities, including the transfer to a low-carbon economy.  Sectors in the Fund are expected to include energy efficiency, waste to energy, water treatment and solutions,

2012 - a strong year in an uncertain world

Year-end report 1 January - 31 December 2012 · AP3 recorded a profit of SEK 22,638 million (loss: 5,483) in 2012. · Fund capital stood at SEK 232,956 million at year-end, up SEK 18,850 million from the prior year. The figure includes payments of SEK 3,788 million to the pension system. · The total return was 10.7% before expenses and 10.7% after expenses. Equities were the largest single contributor, accounting for 8.8 percentage points of total return. · Continued market concern over the debt crisis in southern Europe, rising fears over a budgetary crash in America and

Interim report 1 January – 30 June 2012

· The first six months of 2012 were marked by ongoing worries over the debt crisis in southern Europe and attendant economic weakness. · Income for the first six months totaled SEK 9,848 million (3,449), representing a return of 4.6% (1.6) before expenses and 4.6% (1.6) after expenses. · Fund capital stood at SEK 222,287 million at 30 June, an increase of SEK 8,181 million during the six months. · The change in fund capital includes payments of SEK 1,667 million to the national pension system. · AP3 has during the last 10 years generated a annual return of 5.5%. The real

Turbulence on financial markets during the secod half of 2011 had a negative affect on results

· Fund capital stood at SEK 214,106 million at 31 December, a decrease of SEK 6,723 million from the prior year. The change in fund capital includes payments of SEK 1,240 million to the pension system. · AP3 recorded a loss of SEK 5,483 million (profit: 18,331) in 2011. · The total return was -2.4% before expenses and -2.5% after expenses. · The year was marked by the debt crisis in Europe, political turmoil in North Africa and the Middle East, the earthquake in Japan and slower economic growth in the United States. These factors combined to create uncertainty and weakness on

Interim report 1 January-30 June 2011

· The debt crisis in Europe, political turmoil in North Africa and the Middle East, the earthquake in Japan and slower economic growth in the United States were the backdrop for the first six months of 2011. Together, these factors led to uncertainty and weakness on financial markets. · Profit for the first six months was SEK 3,449 million (4,034), representing a return of 1.6% (2.0) before expenses and 1.6% (1.9) after expenses. · Fund capital stood at SEK 224,094 million on 30 June, an increase of SEK 3,265 million since1 January. · Payments of SEK 184 million to the

Continued positive peformance for AP3 in 2010

· AP3 recorded a net profit of SEK 18,331 million (29,421) in 2010. · The total return was 9.0% (16.3) after expenses and 9.1% before expenses. · Fund capital stood at SEK 220,829 million (206,539) at year-end. In 2010 the net balance between pension system inflows and outflows was negative and resulted in AP3 having to pay SEK 4,041 million during the year to help cover the deficit. · Fund capital has grown by SEK 86,854 million since inception in 2001, with AP3’s investment returns accounting for SEK 73,575 million of this growth. · AP3 has made a positive contribution to

The Annual Report of the Ethical Council 2009 – Dialogue and cooperation are effective tools for influencing companies

The Ethical Council of the First, Second, Third and Fourth AP Funds today publishes its annual report for 2009. The report details the dialogues that the Council holds with companies where indications exist that the companies in question have violated the AP funds’ ethical guidelines.The Council uses dialogue and cooperation as its main tools for influencing companies to act responsibly. The discussions have two aims: encouraging companies to address violations of international conventions and to implement proper systems to prevent future abuses. In 2009, the Council concluded four

Interim report 1 January – 30 June 2009

Positive portfolio growth and strong active returns• Net income for the six months ended 30 June was SEK 9.4 (-17.9) billion, equal to a return of 5.3% (-8.0) before expenses and 5.2% (-8.0) after expenses. • Fund capital stood at SEK 188.6 billion at 30 June, an increase of SEK 7.6 billion since 1 January. • Total active return was 1.3% of market-listed assets during the first six months, representing a contribution of SEK 1.8 billion. • Real return for the past five years amount to 2.2 % per year. For the six months ended 30 June, real return was 4.8%. • AP3 has generated total returns of

Ethical Council of Sweden’s AP Funds presents annual report for 2008: Successful dialogues with the companies

The Ethical Council of Sweden’s First to Fourth AP Funds has today presented its annual report for 2008, in which the Council reports on the past year’s progress in ongoing dialogues with companies suspected of violating the ethical guidelines governing the four Funds’ investments. The dialogues in 2008 were successful in several cases, and the Ethical Council can clearly see that it is making a difference.The breaches of conventions identified by the Ethical Council are often indications that a company has not acknowledged its responsibility for incidents or taken an adequately proactive

Investor pressure urges Sodexo to address inhumane conditions at detainee centre in the UK

Through a constructive dialogue, the Ethical Council of the Swedish AP-Funds has encouraged Sodexo, a world-leading service company with 330,000 employees in 80 countries, to address inhumane conditions at a detainee centre in the UK. The Ethical Council’s active ownership also resulted in Sodexo’s adoption of a company-wide human rights policy in October 2008.In May 2007 the Ethical Council called attention to systematic human rights abuses at Harmondsworth Immigration Removal Center in London, which is managed by Sodexo’s subsidiary Kalyx.”Sodexo has shown a serious commitment to

Full-year report 1 January – 31 December 2007

- Net profit totalled SEK 10.7 billion, corresponding to a 5.0% return after expenses. Return before expenses was 5.1%.- Fund capital rose by SEK 12.7 billion and stood at SEK 224.9 billion at year-end.- The listed portfolio contributed 3.6% to the total return of 5.0%. Alternative investments and strategic allocation contributed 1.2% and 0.5% respectively. Active return (outperformance of the index) reduced return by 0.3%.- Currency exposure was 9.0% at year-end.- Since inception in 2001, AP3’s fund capital has risen by SEK 90.9 billion. SEK 70.6 billion of this increase has been

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