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Five-year summary

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Five year review

2023

2022

2021

2020

2019

Income and inflows, SEK bn






Net flows to/from pension system

-4.8

-4.7

-7.5

-7.9

-6.5

Profit for the period

36.2

-29.2

86.8

37.2

59.5

Fund capital at end of period 1)

499.8

468.4

502.3

423.0

393.7







Return and expenses total portfolio, %






Return before expenses

7.8

-5.7

20.8

9.8

17.7

Operating expenses

0.06

0.05

0.05

0.06

0.06

Commission expenses

0.02

0.02

0.03

0.03

0.03

Return after expenses

7.8

-5.8

20.7

9.7

17.6

Inflation

4.39

12.3

3.9

0.5

1.8

Real return after expenses

3.24

-16.1

16.2

9.1

15.6







SEK bn






Return

36.5

-28.9

87.1

37.4

59.8

Operating expenses

0.3

0.3

0.2

0.2

0.2

Return after expenses

36.2

-29.2

86.8

37.2

59.5







Annual return after expenses %






Five years

9.59

8.1

11.3

9.1

8.5

Ten years

8.68

9.3

11.1

8.7

8.7







Risk






Risk (1-yr standard deviation), % 2)

5.0

8.4

5.2

10.8

4.2

Sharpe ratio 2)

0.8

neg

4.0

0.9

4.3

Risk (10-yr standard deviation), %

7.0

6.9

6.3

7.0

6.0







Currency exposure






% of total portfolio 3)

17.9

19.0

21.1

17.5

19.5







External management

22.2





% of total portfolio


22

31

29

31







Asset management expenses % of assets under management






Operating expenses

0.06

0.05

0.05

0.06

0.06

Operating and commission expenses

0.07

0.08

0.08

0.09

0.09







No. of employees

70*

66

61

57

58

1) Opening fund capital at the start of the Fund in 2001 was SEK 134.0 billion.

2) Shown from 2010 for the total portfolio as a result of the dynamic allocation. Up to and including 2009, risk was shown for the listed portfolio.

3) Excluding exposure through SEK-listed companies with foreign domicile

*) Including employees of the Council on Ethics of the AP Funds

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Träd fotat underifrån

Timberland

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.
Timberland
Ett mötesrum där en dörr öppnas

Excluded companies

Följande bolag är uteslutna från AP3s investeringar.
Excluded companies
En tv-skärm på väggen visar finansnyheter

AP3's securities

AP3’s securities. Here, you can download AP3’s various securities holdings. For us, it is important to create long-term value when selecting investments and in the management of companies in the portfolio.
AP3's securities