Alecta AuM up €2.1bn in Q3
SWEDEN - Occupational pensions company Alecta increased its assets under management by €2.16bn in the third quarter, taking its total AuM to SEK416.6bn (€45.1bn).
Alecta's recovery from the downturn in the equity markets in the second quarter was mainly led by its Swedish equities and foreign real estate portfolios, which returned 14.4% and 11.8% respectively year-to-date.
Alecta’s overall performance year-to-date now stands as 5.1%, significantly stronger than its half year position of 0.1%. Its overall funding now remained strong at 141%, down slightly from 142.7% in June.
Speaking about the performance, Tomas Nicolin, Alecta president, said: “This is a good for return for the period but it is even more important to look at our ability to create a long-term return. We have achieved an average annual return of 6.6% over the past five years.”
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