Our investments are governed by the rules of the National Pension Insurance Funds (AP Funds) Act, partly in regard to how large a percentage of the capital may be invested in each type of asset. Effective from January 1, 2019, new investment guidelines were implemented for the AP Funds. The new guidelines imply a higher ambition level regarding sustainability. It is now stated in law that the asset management operations are to be conducted exemplary by responsible investments and responsible ownership. When managing funds, special emphasis must be given to how a sustainable development can be promoted without compromising on the overall return objective.
In the fund management, particular emphasis should be placed on how sustainable development can be promoted without compromising on the overall goal of return and risk. The AP funds will work together to achieve the goal of exemplary management and have therefore developed values and guidelines for collaboration within sustainability:
The National Pension Insurance Funds (AP Funds) Act’s investment rules for AP3 state that:
- Investment decisions may not be influenced by government policies, whether industrial or economic.
- At least 20 per cent must be invested in fixed-income securities with a high credit rating. (used to be 30 per cent)
- No more than 40 per cent may be invested in unlisted securities. (used to be 5 per cent)
- No more than 40 per cent of assets may be exposed to foreign exchange risk.
- The Fund may hold no more than 10 per cent of the votes in any single listed company.
- The Fund’s investments in regulated Swedish markets may not exceed 2 per cent of the total market value.
- No investments in commodities may be made.