AP4, Stockholm, reported its assets rose 13.5% to a record 295 billion Swedish kronor ($35.1 billion) for the year ended Dec. 31.
Total return for the pension fund was 15.7% for the year, and its active managers outperformed on both short- and long-term return targets, a statement said. Information on the targets wasn’t available by press time.
“We are very pleased that AP4’s talented managers have outperformed the index for the 12th consecutive half-year,” said Mats Andersson, CEO of AP4, in the statement. “The contribution over the past six years totals almost 8 billion Swedish kronor, which can be viewed in the context of an annual cost of about 90 million Swedish kronor to conduct active management.”
The asset allocation was 41% global equities, 35% fixed income, 19% Swedish equities, and the rest in real estate and unlisted assets, as of June 30, the latest available data for the pension fund.
Mr. Andersson could not be reached for further comment by press time.