Excluded companies
The Council on Ethics may recommend the AP Funds to exclude companies whose products or conduct are assessed to be in breach of the conventions and agreements that Sweden has signed or supports. Decisions about exclusions are made by the individual AP Funds’ boards, or the CEO.
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AP3 has been investing in different types of insurance-, climate- and weather-related securities since 2008. Holdings include catastrophe bonds, which are traded outside the traditional financial markets. Returns on these instruments have a low correlation with other investments, which means they help to diversify the portfolio.
Private Equity is the name for investments in the share capital of companies that are not listed on a stock market.
Alternative investments account for around 34% of the AP3 portfolio. They consist of private equity funds, real estate, infrastructure assets, timberland and insurance-related investments.