The buffer funds AP2, AP3 and AP4 report a combined result of SEK 167 billion for the first half of 2026. The result has further strengthened the Swedish income pension system and demonstrates the value of active, long-term and responsible asset management.

As buffer funds within the national pension system, AP2, AP3 and AP4 share a common mandate: to manage the buffer capital for the greatest possible benefit of today’s and future pensioners. During the first half of 2026, the funds generated a net return of 7.8 per cent after costs, while also contributing more than SEK 13 billion to cover deficits in the pension system.

Since inception in 2001, the AP funds have made a net contribution of SEK 311 billion to the pension system, while total fund capital has grown by SEK 1 834 billion. At the end of June 2026, the combined buffer capital amounted to more than SEK 2 388 billion. This provides a strong foundation for continued contributions to a robust and resilient pension system in the years ahead.

These results have been achieved through broad and well-diversified portfolios invested across multiple markets, asset classes and geographies. Amid continued geopolitical uncertainty, volatile markets and trade-related tensions, all three funds have successfully navigated the environment and delivered strong performance.

During the first half of the year, the consolidation of the AP funds was completed according to plan, with strong cost control and continued focus on the funds’ mandate. With strengthened organisations, the three buffer funds are well positioned for the future.

For further information, please contact:

AP2
Cecilia Wide, Head of Communications, Cecilia.wide@ap2.se

AP3
Isabella Croon Stegersjö, Head of Communications, press@ap3.se

AP4
Tobias Fransson, Head of Sustainability, Finance & Communications, tobias.fransson@ap4.se

About the buffer funds

AP2, AP3 and AP4 are buffer funds within Sweden’s income pension system. Their mandate is to manage the buffer capital in a responsible and long-term manner to strengthen the pension system and create value for current and future pensioners. By serving as a financial buffer, the capital helps manage imbalances between pension contributions and pension payments, ensuring the long-term stability of the system.

Learn more: www.ap2.se, www.ap3.se, www.ap4.se