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With reference to the cross-party agreement on pensions

Kerstin Hessius, CEO AP3, comments: 

“AP3 will not be making any further comments on the agreement announced today 12 March 2014 until a formal proposal is made available to relevant parties for comment. A new bill will require us to adapt operationally to the new framework, though this remains some way off at the present time. Many aspects of the agreement have yet to be clarified and no timeframe has been published.”

“For the time being, AP3’s mandate remains unchanged. The National Pensions Act continues to apply and we remain committed to complying with it. AP3 manages pension system assets totalling SEK 260 billion and will continue to focus on this important task. In 2013 we recorded income of SEK 32.3 billion, corresponding to an investment return of 14.1% after expenses. The asset management cost ratio was 0.13%. AP3 has surpassed its target of a 4% real return on investment over the last three-, five- and ten-year periods.”