We contribute to the financial security of current and future pensioners in Sweden

Interim Report 2025

About us

An important mission

The Fourth Swedish National Pension Fund (AP4) was founded in 1974 to manage part of Sweden's public pension capital. Over time, through long-term high returns, we have strengthened the public pension system. We manage the fund capital in an exemplary manner through responsible investments and ownership. In this way, we have contributed to financial security for today's and tomorrow's Swedish pensioners.

Climate & Environment

Our view on sustainability

Climate and environment is a focus area in AP4's asset management and includes both climate change and climate transition, as well as areas such as biodiversity, resource efficiency and waste. In 2024, AP4 reduced its carbon footprint by 15% and by 70% since 2010.

If you as an investor want to take real responsibility and contribute to the climate transition in a powerful way, you must drive transition even in the most CO2-intensive parts of the economy.
CEO Niklas Ekvall
  • 557.7
    SEK billion in fund capital 2025-06-30
  • 11.9
    SEK billion net result 2025-06-30
  • 2.2
    % return after cost 2025-06-30
News
AP4 50 years
  • Press release

    Stable return in a changing world

    The Fourth Swedish National Pension Fund's (AP4) return for the first half of 2025 amounted to 2.2 per cent after costs. As of the end of June 2025. AP4's fund capital amounted to SEK 557.7 billion. compared with SEK 548.2 billion at the beginning of the year. Net result for the first half of the year was SEK 11.9 billion. During the same period. SEK 2.4 billion was transferred net from AP4 to the pension system.

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