AP2 saw its assets grow to 293.9 billion Swedish kronor ($35 billion) in the year ended Dec. 31, on the strength of a total return of 13.3%, a news release said.
Excluding alternative investments and costs, the Gothenburg, Sweden-based pension fund reported a relative return on the total portfolio of 0.5%.
“We have a broad and well-diversified portfolio, and all asset classes have contributed to the year’s strong results,” said Eva Halvarsson, AP2 CEO, in the news release. “Our active portfolio management has generated an excess return of 0.5%, contributing 1.1 billion Swedish kronor to the national pension system. It is also highly positive that we have been granted a permit for further investment in listed Chinese equities, given the fact that this portfolio generated a return of no less than 59.1% in 2014.”
The pension fund’s asset allocation is 51% equities, 33% fixed income and 16% alternatives.
Spokeswoman Ulrika Danielson could not be reached by press time.