Five-year overview - Andra AP-fonden

	2025	2024	2023	2022	Base year 2019
Fund capital, flows and results, SEK million
Fund capital	475.2	458.9	426.0	407.1	381.4
Net outflows to the national pension system	–4.6	–2.0	–4.8	–4.7	–6.5
Net result for the year	20.9	34.9	23.8	–29.2	53.0
Return, %
Return on total portfolio before commission expenses and operating expenses	4.7	8.3	6.0	–6.6	16.1
Return on total portfolio after commission expenses and operating expenses	4.6	8.2	5.9	–6.7	15.9
Annualised return after commission expenses and operating expenses, 5 years	5.4	5.2	6.6	5.2	7.4
Annualised return after commission expenses and operating expenses, 10 years	6.4	6.3	6.8	7.4	8.4
Risk, %
Absolute risk, ex ante¹	10.6	11.3
Management expense ratio as % of managed capital
Management expense ratio, incl. commission expenses	0.08	0.08	0.09	0.11	0.15
Management expense ratio, excl. commission expenses	0.06	0,07	0.07	0.06	0.07
Currency exposure, %	30	24	22	23	34
Total carbon emissions, Scope 1–3 (million tCO₂e)²	7.6	7.6	7.4	8.7	12.3
Corporate governance
Number of nomination committees	15	11	12	9
Voting at general meetings, Swedish	87	142	127	121
Voting at general meetings, foreign	1,228	1,311	1,401	1,261

Reported starting in 2024. ↩︎
Carbon measurements as from and including 2019 are based on a broader universe of carbon data and a refined method of estimating greenhouse gas emissions from non-reporting companies. As companies in the portfolio improve and increase their reporting of CO₂e data, AP2 also revises historical data. There may therefore be deviations in comparison with previous reports. The measurement includes the Fund’s investments in listed equities, corporate bonds, private equity, government bonds, unlisted real estate, sustainable infrastructure and farmland and timberland. ↩︎