Five-year summary

Five-year summary	2018	2017	2016	2015	2014
Income and inflows, SEK bn
Net flows to/from pension system	-6.8	-7.4	-6.6	-4.9	-5.1
Profit for the period	2.2	28.2	28.0	19.6	35.0
Fund capital at end of period 1)	340.7	345.2	324.4	303.0	288.3
Return and expenses total portfolio, %
Return before expenses	0.7	8.9	9.5	6.9	13.8
Operating expenses	0.06	0.06	0.06	0.06	0.07
Commission expenses	0.03	0.05	0.06	0.06	0.06
Return after expenses	0.6	8.8	9.4	6.8	13.7
Inflation	2.0	1.7	1.7	0.1	-0.3
Real return after expenses	-1.4	6.9	7.6	6.7	14.1
SEK bn
Return	2.4	28.4	28.2	19.8	35.2
Operating expenses	0.2	0.2	0.2	0.2	0.2
Return after expenses	2.2	28.2	28.0	19.6	35.0
Annual return after expenses %
Five years	7.8	10.5	10.9	8.4	8.8
Ten years	8.5	6.1	5.7	5.7	6.8
Risk
Risk (1-yr standard deviation), % 2)	5.4	3.5	6.2	7.0	4.7
Risk (1-yr standard deviation) for liquid assets, %	6.4	4.0	7.2	8.0	5.2
Sharpe ratio 2)	0.3	2.8	1.6	1.0	2.8
Sharpe ratio for liquid assets	neg	2.2	1.1	0.5	2.3
Information ratio, active management	neg	1.9	1.4	0.9	1.4
Risk (10-yr standard deviation), %	6.3	7.6	8.0	8.1	7.8
Currency exposure
% of total portfolio 3)	17.7	15.0	17.5	22.8	24.4
External management
% of total portfolio	26.0	25.0	29.0	31.0	33.2
Asset management expenses % of assets under management
Operating expenses	0.06	0.06	0.06	0.06	0.07
Operating and commission expenses	0.09	0.11	0.12	0.12	0.12
No. of employees	59	57	57	51	57

¹⁾ Fund capital on 1 January 2001 was SEK 134.0 billion.

²⁾ As of 2010, figures relate to the total portfolio. Prior to 2010, risk was shown for the listed portfolio only.

³⁾ Excluding exposure to SEK-listed companies with a foreign domicile.