Five-year overview
| | 2023 | 2022 | 2021 | 2020 | 2019 |
| Fund capital, flows and results, SEK million | | | | ||
| Fund capital | 426,040 | 407,112 | 441,045 | 386,224 | 381,350 |
| Net outflows to the national pension system | -4,833 | –4,689 | –7,528 | –7,902 | –6,520 |
| Net result for the year | 23,761 | –29,244 | 62,349 | 12,776 | 53,042 |
| Return, % | | | | ||
| Return on total portfolio before commission expenses and operating expenses | 6.0 | –6.6 | 16.4 | 3.7 | 16.1 |
| Return on total portfolio after commission expenses and operating expenses | 5.9 | –6.7 | 16.3 | 3.5 | 15.9 |
| Annualised return after commission expenses and operating expenses, 5 years | 6.6 | 5.2 | 8.5 | 7.3 | 7.4 |
| Annualised return after commission expenses and operating expenses, 10 years | 6.8 | 7.4 | 9.5 | 7.7 | 8.4 |
| Risk, % | | | | ||
| Standard deviation ex-post, total portfolio1 | 7.1 | 7.1 | 4.2 | 6.2 | 6.4 |
| Sharpe ratio ex-post, total portfolio | 1.1 | neg | 3.9 | 0.4 | 4.0 |
| Management expense ratio as % of managed capital | | | | ||
| Management expense ratio, incl. commission expenses | 0.09 | 0.11 | 0.11 | 0.14 | 0.15 |
| Management expense ratio, excl. commission expenses | 0.07 | 0.06 | 0.06 | 0.06 | 0.07 |
| Currency exposure, % | 22 | 23 | 34 | 34 | 34 |
| Total carbon emissions, Scope 1–32 | |||||
| Total carbon emissions (million tCO₂e)3 | 5.4 | 7.2 | 8.2 | 6.9 | 10.5 |
| Corporate governance | |||||
| Number of nomination committees | 12 | 9 | 8 | ||
| Voting at general meetings, Swedish | 127 | 121 | 134 | ||
| Voting at general meetings, foreign | 1,401 | 1,261 | 1,092 |
- Calculated on a 10-year quarterly return. ↩︎
- 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, government bonds (Scope 1), unlisted real estate, sustainable infrastructure and farmland and timberland. The Fund does not have any Scope 3 data for farmland. ↩︎
- The 2019–2022 period includes estimated data for the asset classes for which there is no historical data. ↩︎