SWEDEN - AMF Pension produced a 6.6% return in the first six months of 2007, a major improvement on the 0.4% return realised during the same period in 2006.
The fund, which markets itself as low cost and open to all, saw its assets rise by SEK 29.1bn (US$4.2bn) after tax, to reach SEK284bn (US$41bn).
Christian Elmehagen, president and CEO of AMF, said the result was one of the best in the fund’s history and would enable AMF to award its members with higher payments, which was in line with its mission statement.
Swedish equities performed best for the fund, returning 16.5%, and beating international equities which returned 10.8%.
Overall, equities produced a total return of 13.9% in the first half of 2006, outclassing the 0.8% return for the same period in 2006.
Domestic and international bonds, however, produced a negative return of -1%. For the first six months of 2006 the same assets returned -1.1%.
Real estate managed to produce 4.3% in the first half of 2007, falling short of the 7.2% return realised from January to June 2006.
This week's top stories included Cardano announcing plans to acquire Now Pensions from a Dutch pension fund later this year.
Royal Bank of Scotland (RBS) faces a £102m impact on liabilities as a result of equalising guaranteed minimum pensions (GMPs), according to its annual results.
Malcolm Mclean says getting the channels of communication right and engaging more openly is a good starting point