Favourable result despite weak market

The Fund’s capital assets amounted to SEK 194.8 billion as per June 30th 2006, corresponding to an increase since January 1st of SEK 4.3 billion, including inflows. This means that the Fund posted a return of 1.9 percent in the first half of 2006, excluding expenses. The result for the report period was SEK 3.5 billion.

“This is a good result, in light of the difficult market conditions experienced during the first half,” says Eva Halvarsson, CEO of the Second Swedish National Pension Fund/AP2. “This favourable outcome may primarily be attributed to our selection of a benchmark portfolio featuring low currency exposure and the Fund’s own choice of indexes.”

“The task of making the Fund still more efficient continues. In recent years, the number of mandates under external management has been reduced, and 75 percent of total assets are now under in-house management,” says Eva Halvarsson.

For further details, please contact CEO Eva Halvarsson, Second Swedish National Pension Fund, or Carl Rosén, head of Corporate Governance & Communications, on +46 (0)31 704 29 00.