SWEDEN - The seventh AP fund has reported a return of 9.6% for its main fund and 11.8% on its subsidiary portfolio, according to new figures revealed in its half yearly report.
Overall, both the main Premiesparfonden and the secondary Premievalsfonden funds held 20% in Swedish equities, and this produced a return of 13.3%.
Peter Norman, executive president at AP7, said: “We are pleased with the overall result. Our asset liability modelling sets a return target of seven to eight percent, which we have beaten.”
The value of the funds grew to SEK 80bn (US$11.67bn) and SEK 2.5bn (US$360m) respectively, in the first six months of the year.
Global and emerging market equities for both funds produced a 9.7% return, despite them only holding emerging market stocks for two months.
Meanwhile, AP7’s private equity allocation produced 13.9% and hedge funds returned 6.3% for both funds. However, bonds performed poorly, yielding a 0.9% return for AP7.
In May, AP7 revealed it would switch up to 40 % into pure alpha strategies within the next three to five years.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.