August 25, 2026

Interim Report 2026 – AP3 reports a 7.6 per cent return

AP3 concluded the first half of the year with a solid net return of 7.6 per cent, corresponding to earnings of nearly SEK 63 billion for the benefit of the income pension system. As a result, the Fund's assets under management increased to SEK 891 billion.

Staffan Hansén, CEO, comments: “AP3 has navigated financial markets successfully during the period, once again demonstrating the value of an active and disciplined investment strategy. The consolidation of the buffer funds at the turn of the year proceeded smoothly, and the assets transferred from AP1 have been successfully integrated into the Fund’s investment structure.”

Interim Report 2026 – AP3 reports a 7.6 per cent return

*The interim report measures the asset management cost ratio on a full-year basis.
** The interim report also shows annualised returns for 10 and 5 years, respectively.
	June 30, 2026	June 30, 2025	Dec 31, 2025
Assets Under Management, SEK bn	891.0	550.6	577.1
Assets Transferred from Första AP-fonden (AP1), SEK bn	255.8	-	-
Earnings, SEK bn	62.7	4.0	32.6
Net flow to pension system, SEK bn	-4.5	-2.4	-4.6
Fund capital, 1 January, SEK bn	577.1	549.1	549.1
Return after expenses, %	7.6	0.7	6.0
Real return after expenses, %	6.6	0.2	5.7
Asset management costs. Operating expenses as a percentage of assets under management *	0.05	0.06	0.07
Asset management costs. Commission expenses as a percentage of assets under management *	0.01	0.01	0.01
Total asset management costs as a percentage of assets under management*	0.05	0.07	0.08
Annualised return after expenses, 5 years, % **	6.7	8.5	7.5
Annualised return after expenses, 10 years, % **	8.9	7.8	8.3
Real annualised return after expenses, 10 years, % **	5.8	4.7	4.6

Link to Reports

Contact
Isabella Croon Stegersjö
Chief Communications Officer
press@ap3.se

About AP3

Tredje Ap-fonden (AP3) is one of three buffer funds within Sweden’s income pension system. AP3 is mandated by the Swedish Parliament to manage the Fund’s assets for the greatest possible benefit of current and future pensioners. As of 30 June 2026, the Fund managed SEK 891.0 billion in assets and generated a return of 7.6 per cent after expenses.