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Continued positive peformance for AP3 in 2010

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  • 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 pension system as returns since inception have exceeded the income index, which is used as the basis for pension indexation. Since 2001 the income index has risen by 3.2% per year, compared to AP3’s annual return of 4.1%.

Kerstin Hessius, CEO AP3, said: “Thanks to our performance in 2009 and 2010 we have now more than recouped the losses incurred during the financial crisis of 2008. Fund capital nevertheless remains lower than it was at the start of 2008 due to the fact that we have made net payments of SEK 7,947 million to the pension system since that date.

AP3’s complete annual report 2010 in Swedish and a short version in English can be downloaded from www.ap3.se. The complete annual report 2010 in English will be published in mid-March.

For further information please contact:
Kerstin Hessius, CEO, +46 8 555 17 100, kerstin.hessius@ap3.se
Christina Kusoffsky Hillesöy, Head of Communications and Sustainable Investments, +46 8 555 17 123, christina.hillesoy@ap3.se

AP3 manages SEK 220.8 bn of the buffer fund capital in the Swedish public pension system. The Fund´s mandate from the Swedish Parliament to generate the best long-term return on capital in relation to our liabilities in the pension system. To achieve this we have built a focused and professional asset management organisation. Our vision is to combine best-practice from asset managers worldwide with the latest thinking in financial theory. Read more about us on www.ap3.se.