Press releases
-
A tumultuous and dramatic first half-year 2020
The Fourth Swedish National Pension Fund’s (AP4) return for the first half of 2020 was -2.5% before and after costs. AP4’s total fund capital at 30 June 2020 amounted to SEK 403.2 billion, compared with SEK 418.0 billion at the start of the year. The result for the first half of the year was SEK -10.6 billion. During the same period, net payments from AP4 to the pension system totalled SEK 4.2 billion. The portfolio’s active return during the first half of the year was lower than the return for AP4’s benchmark portfolio, by -0.7 percentage points. Currency exposure at the end of the period was 19.7% of fund capital.
14 July 2020 -
AP4 posts record result for 2019
The return was very strong in 2019 and amounted to 21.7% after costs. Successful active management contributed 4.4 percentage points to the return. The result for the year totalled SEK 75.2 billion, and total fund capital increased to SEK 418.0 billion at year-end. Total costs amounted to 0.10% of assets under management. AP4’s cost level was 47% lower than for corresponding pension funds in an international comparison. During 2019 the carbon footprint of AP4’s equities portfolio decreased by a further 11% and is now 48% lower than for a broad global equities index.
21 February 2020 -
Strong return in continued turbulent market
With a return of 13.0% after costs, total fund capital increased to SEK 391.4 billion at the end of the first half of 2019. The portfolio’s active return during the first half of the year exceeded AP4’s benchmark portfolio by 1.7 percentage points. The half-year result amounted to SEK 45.2 billion. A net total of SEK 3.0 billion was paid out to the pension system during the first half of the year. Adjusted to a full-year basis, total costs amounted to 0.10% of average assets under management.
12 July 2019 -
AP4 accepts public offer to shareholders of Oriflame
AP4 has decided to accept the public offer to Shareholders of Oriflame.
11 June 2019 -
New issues in focus during 2008 for The Council on Ethics
For more than 10 years, the AP Funds’ Council on Ethics has exercised influence on the AP Funds’ global portfolio of listed companies to improve their environmental, human rights and corporate governance work through engagement and dialogue. During 2018, the engagement and efforts of the Council on Ethics have been directed at problem areas such as Facebook and human rights; the use of pesticides threatening the survival of bees; and the legalisation of cannabis in Canada and the emergence of listed cannabis companies. Other focus areas have been oil companies’ long-term climate work, deforestation in South America, and tailings dams in Brazil.
04 June 2019 -
Swedish AP Funds form new company – Polhem Infra – for investments in infrastructure
AP1, AP3 and AP4 (Swedish National Pension Funds) form a joint company, Polhem Infra, for investments in unlisted Swedish companies focusing on infrastructure.
11 April 2019 -
A turbulent year, but active management delivered
The return for the year was -0.1% before costs and -0.2% after costs. Active management contributed +2.3 percentage points to the return – a significant and important contribution during a year with weak market returns.
21 February 2019 -
The Council on Ethics of the Swedish National Pension Funds (AP Funds) recommends exclusion of Vale S A
The Brazilian mining company Vale S.A has within a short timeframe been involved in two major accidents where tailings dams in Minas Gerais in Brazil has collapsed, with multiple fatalities and extensive environmental devastation. The Council, together with other investors, has conducted an extensive dialogue with Vale after the first accident at Mariana in late 2015. The focus has primarily been on ensuring that the company took responsibility for that accident but also that the company carried out a review regarding the safety of its other tailings dams in their operations.
20 February 2019 -
Call for new independent mine safety system to address tailings dam failures
Joint call issued by Church of England funds, Swedish Public Pension funds, Dutch funds APG and Robeco, New Zealand Super, UK’s LGPS Central and Canadian fund BMO Global Asset Management; together with combined assets over £1 / $1.3 / €1.1 trillion
31 January 2019 -
AP4 increases sustainability ambitions – divests from nuclear weapons and oil sand
AP4 has long experience in integrating sustainability in its asset management operations. AP4 is at the forefront internationally and was recently ranked as the leading pension fund internationally when it comes to addressing climate change in asset management. AP4 is of the view that by taking responsibility as owner and by lowering the climate risk in the portfolio, AP4 can contribute to higher long-term sustainable returns.
16 January 2019 -
Five awards to AP4 at leading European pension conference
The Pension & Investment Europe Pension Conference was recently held in Dublin, Ireland. The annual conference brings together pension providers from all over Europe. At the conference, each year, industry-leading performances among pension funds are awarded in a prize-ceremony.
06 December 2018 -
AP4's CEO Niklas Ekvall attends the G20 Investor Forum
AP4 CEO Niklas Ekvall has been invited to attend the Investor Forum that is part of the G20 meeting this week in Buenos Aires.
30 November 2018 -
AP4 supports UN-initiative that calls on finance industry to tackle 'tobacco epidemic'
During 2016 AP4 made a business decision not to invest in tobacco companies, since we anticipate that rising long-term risks will have a negative effect on tobacco company valuations in the future. Now, AP4 joins the initiative Tobacco-Free Finance Pledge that aims to highlight financial institutions that have implemented tobacco-free finance polices and encourage others to do the same.
09 November 2018 -
AP4 ranked first in the AODP global analysis of pension funds’ approach to climate change
AP4 has been ranked first in an analysis of 100 global pension funds based on an analysis of the funds’ approach to climate-related risks and opportunities.
26 September 2018 -
AP4's fund capital grew to SEK 367 billion
With a positive net result of SEK 13.7 billion, total fund capital grew to SEK 366.9 billion during the first half of 2018. The return was 3.8 % after costs (3.9 % before costs). AP4 exceeded both its medium-term and its long-term return target. During the first half of 2018 a net total of SEK 3.3 billion was paid out to the pension system.
12 July 2018 -
AP4 publishes climate report in accordance with the TCFD's recommendations
Today the Fourth Swedish National Pension Fund (AP4) published a climate report in accordance with the Task Force on Climate-related Disclosures’ (TCFD) recommendations. The report is structured in accordance with the TCFD’s four thematic areas: Governance, Strategy, Risk Management, and Metrics and Targets. In addition, the report provides examples of AP4’s climate-related risks and opportunities.
12 June 2018 -
The Council on Ethics focuses on counteracting corruption
The Council on Ethics of the Swedish National Pension Funds (the Council) celebrated ten years in 2017. During these ten years, the Council has influenced global portfolio companies to improve their work and information regarding environmental, social issues and corporate governance through corporate dialogues. During 2017 the dialogues have included discussions and meetings with companies relating to corruption, human rights and workplace issues in several industries, where the AP Funds as active owners have worked to bring about positive changes.
18 April 2018 -
AP4’s fund capital increased to SEK 356.6 billion
With a net result of SEK 30.1 billion for 2017, AP4’s fund capital increased to SEK 356.6 billion by the end of the year. The net return was 9.1 per cent (9.2 per cent gross of costs), and AP4 outperformed both the income index and the long-term return target. Net outflows to the national pension system totalled SEK 7.4 billion during the year.
22 February 2018 -
AP4's fund capital increases to SEK 348 billion
With a positive result of almost SEK 17 billion, the Fourth Swedish National Pension Fund (AP4) fund capital increased to SEK 348 billion - a new record level. The return for the first six months amounted to 5.2 percent after costs. Over the past ten years, AP4 has returned 88 percent after costs, which equates to an average annual return of 6.5 percent.
11 July 2017 -
AP4 ranked 8th out of 500 institutional investors globally
AP4 has been awarded the highest rating (AAA) and positioned itself in eight place out of 500 institutional investors in the Asset Owners Disclosure Project (AODP) Global Climate 500 Index.
28 April 2017 -
The Ethical Council Annual Report 2016 - Human rights continues to be in focus
The Ethical Council of the Swedish AP Funds celebrates ten years 2017. During these ten years the Council has through engagement encouraged the AP Funds' global portfolio companies to improve their work on environmental issues, human rights and corruption. In 2016 dialogues have covered companies regarding the fishing industry in Thailand and the guest workers' situation in Qatar.
05 April 2017 -
AP4's fund capital increased to SEK 334 billion
A profit of over SEK 31 billion increased the Fourth Swedish National Pension Fund’s (AP4) fund capital to SEK 334 billion in 2016. This amounted to a return of 10.0 percent after expenses. AP4 exceeded both the income index and the long-term return target.
22 February 2017 -
AP4 publishes the 2015/2015 Sustainability and Corporate Governance Report
Sustainability affects us and our planet. It also has a financial impact on AP4's investments and thus affects the possibility of positively contributing to safeguarding pensions.
17 January 2017 -
130 investors call on G20 nations to ratify Paris agreement
130 investors - including AP4 - has signed a letter demanding that the leaders of the so-called G20 countries ratify the climate agreement that was reached in Paris last December. The signatories to this letter are investors with more than USD 13 trillion in combined assets under management.
02 September 2016 -
AP4's fund capital increases to SEK 312 billion - a new record level
With a profit of SEK 5.7 billion, the Fourth Swedish National Pension Fund (AP4) increases fund capital to a record level of SEK 312 billion after net outflows of three billion kronor to the pension system. The total return for the first half of 2016 amounted to 1.9 after expenses.
11 July 2016 -
Niklas Ekvall appointed new CEO of AP4
The Board of the Fourth Swedish National Pension Fund (AP4) has appointed Niklas Ekvall as the new CEO of AP4.
22 June 2016 -
AP4 announces today a continued action in decarbonizing its Equity Portfolio
In order to reduce its exposure to climate risk, AP4 has allocated 21.8 % (US$3.2 billion of US$14.7 billion as per 1 June 2016) of its global equity portfolio to low carbon strategies and AP4 is now prepared to proceed with its long-term target to decarbonize its entire global equity portfolio by 2020.
15 June 2016 -
Sarah McPhee appointed Chairwoman of the Board of AP4
The Swedish Government appointed Sara McPhee as Chairwoman of the Board of AP4.
29 April 2016 -
Mats Andersson to leave the Fourth AP-Fund
Mats Andersson has today informed the Board that he has decided to leave his position as CEO of AP4 after nearly ten years.
01 March 2016 -
AP4's Fund capital increased to SEK 310 billion
With a positive profit of SEK 20 billion the Fourth Swedish National Pension Fund (AP4) increased fund capital to SEK 310 billion in 2015. Total return amounted to 6.8 percent after expenses. Active management outperformed the Index for the seventh consecutive year.
19 February 2016 -
AP4 publishes 2014/2015 Sustainability and Corporate Governance Report
Integrating sustainability into asset management is absolutely necessary for long-term management. For AP4, Sustainability and Corporate Governance is about taking responsibility and helping companies to become successful and generate a solid return in the long-term. This helps to safeguard pensions.
22 December 2015 -
PDC surpasses the target of $100 bn USD in decarbonization strategies
The Portfolio Decarbonization Coalition (PDC) is run by AP4 along with the United Nations Economic Programme (UNEP), Amundi and the Carbon Decarbonization Project (CDP). The aim is to get investors worldwide to measure and disclose their carbon footprint and to reduce their carbon footprint.
27 November 2015 -
AP4 invests in children's rights
The Global Child Impact Equities Fund is the first fund to focus on children's rights. The fund is developed in partnership between RobecoSAM and the Swedish Royal family's foundation Global Child Forum. The Fourth Swedish National Pension Fund (AP4) is one of the first large investors.
26 November 2015 -
The Swedish National Pension (AP) Funds coordinate the way carbon footprints are reported for investment portfolios
The Swedish AP Funds, the First, Second, Third, Fourth, Sixth and Seventh AP Funds, have agreed to coordinate the way carbon footprints are reported. The AP Funds will all report their carbon footprints with three indicators.
24 November 2015 -
AP4 reaches a new record level with 310 billion in fund capital
Together with a profit of SEK 18 billion, the Fourth Swedish National Pension Fund (AP4) increased fund capital to SEK 310 billion, a new record level. The total return was 6.1 percent after expenses. AP4 has thereby exceeded the long-term return target.
10 July 2015 -
New record high for AP4 - fund capital rose to SEK 295 billion
Total return for the Fourth Swedish National Pension Fund (AP4) was 15.7% after expenses in 2014. AP4 delivered its best earnings to date of over SEK 40 billion. AP4’s active management outperformed the index for the twelfth consecutive six-month interim period. AP4 overshot both short- and long-term return targets.
20 February 2015 -
AP4 launch Coalition to decarbonize investment worldwide
UNEP FI, AP4, Amundi and CDP launch global Portfolio Decarbonization Coalition at Ban Ki-moon’s Summit on Climate Change.
24 September 2014 -
AP4:s Fund capital reaches a record level of SEK 276 billion
The Fourth Swedish National Pension Fund's (AP4) positive result provided a contribution of close to SEK 19 billion to the pension system. AP4’s active management outperformed the index for the eleventh consecutive six-month period. Fund capital increased to SEK 276 billion.
11 July 2014 -
AP4 hands in its Scania shares
AP4, the Fourth National Pension Insurance Fund, has decided to hand in its shareholding in Scania (corresponding to about 0.6% of the capital in Scania) in accordance with Volkswagen’s offer.
13 May 2014 -
The Ethical Council Annual Report 2013 - Impact through dialogues
The Ethical Council is developing its preventive dialogues in order to get companies to act more responsibly and thereby reduce the risk that they violate international conventions. The focus areas for the Ethical Council in 2013 included human rights, business ethics and environmental issues in the telecom, pharmaceutical, tobacco and cocoa industry.
22 April 2014 -
AP4 declines Volkswagen's bid for Scania
The Fourth Swedish National Pension Fund (AP4) has decided to decline the SEK 200 per share offer for Scania presented by Volkswagen.
10 April 2014 -
AP4 invests in engagement funds
The Fourth Swedish National Pension Fund (“AP4”) made substantial investments during Q1 2014 into two engagement funds established by GO Investment Partners (“GO”).
08 April 2014 -
AP4 comments upon the Volkswagen bid for Scania
The Fourth Swedish National Pension Fund's (AP4) will carefully assess and evaluate the bid that now has been placed on Scania. It is an important task. Scania is a world-class company and holds a long track record of positive development as an independent and listed company. There are good reasons to believe that this can be upheld also in the future.
24 February 2014 -
Record year for AP4 - Fund Capital increased to SEK 260 billion
AP4’s total return was 16.4% after expenses for 2013. AP4 posted its best ever earnings, overshooting SEK 37 billion. A strong reason for last year’s upbeat performance was opting for a high proportion of listed equities.
21 February 2014 -
AP4 invests in Bank of America's green bond
Bank of America Corporation announced today that it has issued a “green bond” consisting of a three-year, fixed-rate bond that is $500 million in aggregate principal amount. This issuance of bonds is part of the company’s ongoing commitment to advance renewable energy initiatives and promote energy efficiency.
21 November 2013 -
AP4 invests in FMO's green bond
On Wednesday, 6th November 2013, the Nederlandse Financierings-Maatschappij voorOntwikkelingslanden N.V. (FMO ), the international development bank of the Netherlands ratedAAA (negative) by S&P, has priced its successful inaugural Sustainability Bond, a 5-year EUR 500 million RegS transaction.
06 November 2013 -
AP4 invests in African Development Bank's green bond
On Thursday, 10th October 2013, the African Development Bank (AfDB), rated Aaa/AAA/AAA, launched its inaugural Green Bond transaction.
11 October 2013 -
AP4 invests in lower emissions in emerging markets
The Fourth Swedish National Pension Fund is to invest in a new emerging markets fund with companies that have both lower carbon emissions and less fossil fuel reserves.
07 October 2013 -
Swedish AP Funds exclude four companies accused of contravening international conventions
The First, Second, Third and Fourth AP Funds (AP1-AP4) are to divest their holdings in Walmart, Freeport McMoRan, Incitec Pivot and Potash after being advised by their Ethical Council that several years of engagement with the companies had failed to deliver the desired results.
30 September 2013 -
Investors with US$ 5.8 trillion of assets press US and Canada on tax disclosure by extractive companies
A group of 44 international investors representing more than $5.6 trillion in assets under management (AUM) has written to Mary Jo White, Chairman of the U.S. Securities and Exchange Commission (SEC), to voice its support for the SEC and concern at the potential rollback of a key disclosure provision in US law.
28 August 2013 -
Magnus Eriksson appointed Deputy CEO of AP4
The Board of AP4 has appointed the Fund’s Chief Investment Officer Magnus Eriksson to the position of Deputy CEO. He will also continue to work as AP4’s Chief Investment Officer.
26 August 2013 -
AP4 overshot targets and Fund Capital rose to SEK 241 billion
AP4’s total return was 6.3 %, contributing over SEK 14 billion to profit for the period January–June 2013. AP4 benefited from its high proportion of equities in the upbeat performance of equity markets in Sweden and around the world.
22 August 2013 -
Shareholder proposal at Wal-Marts AGM earned over 32 % of the independent shareholder votes
Wal-Mart insiders own over half of the company’s outstanding shares, making it virtually impossible that a shareholder proposal not supported by management would receive the support of a majority of votes cast.
10 June 2013 -
Ethical Council's annual report for 2012 - engagement yields results
Focus areas in 2012 included human rights, business ethics and environmental issues in the extractive, tobacco and cocoa industries. The Ethical Council has seen many examples where dialogue can be an effective tool to influence companies towards sustainable stewardship.
12 April 2013 -
AP4 overshot short- and long-term return targets
AP4’s total return was just over 11% in 2012. The positive outcome made a contribution of SEK 23 billion to the pension system, of which SEK 1.8 billion was generated by AP4’s active management. It was the fourth consecutive year in which AP4’s active management outperformed the benchmark index, thus delivering a better return than passive management. Fund capital increased to SEK 230 billion.
20 February 2013 -
Pension Funds recover $2.425 Billion
Pension Funds Recover $2.425 Billion for Shareholders in Bank of America Securities Class Action: A Historic and Outstanding Result for Investors.
28 September 2012 -
A strong six months
AP4’s total return was 5.8% for the period January – June 2012. Fund capital increased to just over SEK 220 billion. The Fund’s active management outperformed the benchmark indexes by over 0.8 percentage points, contributing SEK 1.6 billion to the return.
22 August 2012 -
Bokslutskommuniké 2011
In a weak stock market, in which the fund capital decreased slightly compared to the previous year, the Fund's active management made a positive contribution of close to SEK 0.5 billion.
17 February 2012 -
Major differences in listed companies' sustainability efforts
Press release 27 January 2012 from Sustainable Value Creation initiative.
27 January 2012 -
Interim Report January - June 2011
AP4 has now published our Interim Report from January - June 2011.
25 August 2011 -
Annual Report 2010
AP4 has now published our Annual Report for 2010.
17 February 2011 -
Interim Report January - June 2010
AP4 has now published our Interim Report for January - June 2010.
27 August 2010 -
The Annual Report of the Ethical Council 2009
The Ethical Council of the First, Second, Third and Fourth AP Funds has today published its annual report for 2009. The report details the dialogues that the Council holds with companies where indications exist that the companies in question have violated the AP funds’ ethical guidelines.
29 March 2010 -
Annual Report 2009
AP4 has now published our Annual Report for 2009.
19 February 2010 -
Ethical Council appoints Secretary-General
The Ethical Council of Sweden’s AP funds has strengthened its operations by appointing John Howchin as Secretary-General. His primary role will be to coordinate the Ethical Council’s corporate dialogues and the investor initiatives which the Council supports. He will also help to develop the Council’s strategies and focus areas.
13 November 2009 -
Interim Report January - June 2009
AP4 has now published our Interim Report for January - June 2009.
27 August 2009 -
Annual Report 2008
AP4 has now published our Annual report for 2008.
18 February 2009 -
Investor pressure urges Sodexo to address inhumane conditions at detainee centre in the UK
Through a constructive dialogue, the Ethical Council of the Swedish AP-Funds has encouraged Sodexo, a world-leading service company with 330,000 employees in 80 countries, to address inhumane conditions at a detainee centre in the UK.
01 December 2008 -
AP4 sells holdings in cluster-bomb companies
The Fourth Swedish National Pension Fund (AP4) is selling its holdings in companies that market cluster munitions. These holdings are being sold on the advice of the Ethical Council of the Swedish National Pension Funds, which has studied the convention banning cluster munitions, a convention endorsed by Sweden in May 2008.
15 September 2008 -
AP Funds' Ethical Council uses dialogue to encourage corporate responsibility
The Ethical Council of Sweden’s First-Fourth AP Funds has today presented its first annual report. In connection with this, the Ethical Council has published the names of the companies with which it is currently engaged in dialogue.
21 April 2008 -
Annual report 2007
AP4 has now published our Annual Report for 2007.
14 March 2008 -
Interim Report January - June 2007
AP4 has now published our Interim Report for January - June 2007.
30 August 2007 -
AP funds coordinate etics activities
Through the formation of an Ethical Council, Sweden’s national pension buffer funds, AP1, AP2, AP3 and AP4, have coordinated their SRI analysis of environmental and ethical compliance in the foreign companies where the funds have holdings.
07 February 2007 -
Interim Report January - June 2006
AP4 has now published our Interim Report for January - June 2006.
31 August 2006 -
Mats Andersson appointed president of AP4
The Board of Directors of the Fourth National Swedish Pension Fund has appointed Mats Andersson as new President of the Fund.
10 July 2006 -
Annual report 2005
AP4 has now published our Annual Report for 2005.
15 February 2006 -
AP4 rejects Old Mutual's offer for Skandia
The Fourth National Swedish Pension Fund’s holding in Skandia is long-term. The Fund rejects Old Mutual’s offer for Skandia. The reasons given by Skandia’s Board of Directors are shared fully by the Fund
27 September 2005 -
AP4 Interim Report January-June 2005
AP4 has now published our Interim Report for January-June 2005.
25 August 2005 -
AP4 Interim Report January-June 2004
AP4 has now published our Interim Report for January-June 2004.
24 August 2004 -
AP4 Annual Report 2003
AP4 has now published our Annual Report for 2003.
12 February 2004 -
Interim Report January-June 2003
AP4 has now published our Interim Report for January-June 2003.
27 August 2003 -
Annual Report 2002
AP4 has now published our Annual Report for 2002.
13 February 2003 -
AP4 appoints external managers
Fjärde AP-fonden (the Fourth Swedish National Pension Fund) has appointed external managers for equity investments in Japan and Pacific.
12 December 2002 -
AP4 announces search for external equity mandates
Fjärde AP-fonden (the Fourth Swedish National Pension Fund) has, in the beginning of April, announced two external equity mandates in EU´s central public procurement database, Tender Electronic Daily
09 April 2002