A dramatic year with major financial turbulence
2022 was characterised by financial turbulence with rapidly rising interest rates and sharply falling values for most asset classes. The Fourth Swedish National Pension Fund’s (AP4’s) return for the full year 2022 was SEK -11.9% after costs, and the net result for the year was SEK -62.5 billion. After a net transfer of SEK 4.7 billion to the pension system during the year, fund capital amounted to SEK 460.5 billion at year-end 2022. The portfolio’s CO2 emissions decreased by 3% in 2022, and the CO2 emissions have decreased by 61% since 2010. AP4 takes its responsibility as an owner and served on 46 nomination committees during 2022.