The AP Funds are regulated by the Swedish National Pension Fund Act (2000:192)  >>

The AP3 Board has nine members, all appointed by the government. The Board has full and collective responsability for the operations, governance and financial management of the Fund within the parameters set by Parliament. Board responsibilities and activities not prescribed by legislation are covered by the Board's work plan, which is apporved annually by the directors.

Drawing on the OECD guidelines, the AP3 Board adopted a new governance framework in 2006 and also defined a set of basic investment principles. The principles cement the investment philosophy and establish rules for the division of roles and responsibilities between the Board and executive management. 

The Fund´s auditors are appointed by he governement.

The Board of Directors makes a governance report each year. Read the report for 2011 >>

The governance reports are part of the annual reports prior to 2011 >>

The Minstry of Finance conduct an evaluation of the AP funds each year.