AP2, Gothenburg, Sweden, returned 13.5% on its investments for the year ended Dec. 31, the 241.5 billion Swedish kronor ($37.5 billion) fund announced on Friday.
The fund exceeded its custom benchmark by 110 basis points in 2012, excluding alternative investments, according to a news release from the fund.
The fund had a return on its investments of -1.9% the previous year, trailing its custom benchmark by 30 basis points in 2011.
Alternatives were the best-performing asset class for the fund in 2012, with a return of 13.9%.
“At the close of the year, we can state that the Second AP Fund's capital assets have never been greater. … (I)n spite of the continued turbulence on financial markets, we have demonstrated that our long-term strategy is working well,” Eva Halvarsson, the fund's CEO, said in the release.
Ms. Halvarsson and spokeswoman Ulrika Danielson were not available by press time.
