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AP2 recorded a net 4.8% return in the six months ended June 30, while fellow Swedish pension fund AP3 recorded a net 5.5% return.

This time last year, Sweden’s four buffer funds reported the best returns in their history. Fast forward 12 months, and the four funds have posted losses thanks to allocations to equities and fixed income dragging their portfolios down.

Swedish pension funds AP2 and AP3 recorded net returns of -6.2% and -7%, respectively, for the first six months of the year.

AP2 has divested about $940 million in global equities and corporate bonds to align its internal portfolios with a goal of the Paris Agreement.

By Susanna Rust2020-12-10T16:02:00+00:00 Sweden’s AP2 has pulled out of fossil fuel companies in connection with portfolio changes leaning on rules for a recently introduced EU climate benchmark, the fund’s latest step towards the goal of aligning its investments with the Paris Agreement. The state pensions buffer fund today announced it had adjusted its internal indices and portfolios for foreign equities and corporate bonds to ensure the holdings were consistent with the EU Paris-Aligned Benchmark (PAB). The changes relate to half of AP2’s portfolio – AP2 has total assets of just ...