Press releases and news

The Council on Ethics of the Swedish National AP-funds signals its expectations for tech giants on human rights

The Council on Ethics of the Swedish National Pension Funds (AP-funds) has issued a new statement of its expectations of global tech companies on human rights. The expectations demand that tech giants reinforce measures to respect human rights and fully align their work with the UN Guiding Principles on Business and Human rights.

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.

Nordic Council of Ministers discuss collaboration on green investment mobilisation

Council on Ethics influences safety in mining and focuses on deforestation, money laundering and climate efforts.

For more than 13 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 2019, the Council on Ethics’ efforts and involvement have focused on areas such as inadequate safety in managing mine waste, known as ‘tailings’. Other focus areas include money laundering, long-term environmental efforts in the oil industry, and deforestation in South America.

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.