Dual task as Sweden’s AP1 prepares for termination

The decision to close down AP1 at the end of the year has intensified rather than alleviated the workload at the Swedish national pension fund. Following a political decision to reduce the number of AP funds, the three Stockholm-based funds AP1, AP3 and AP4 will be subject to a consolidation that will see AP1 dismantled and its SEK 496.9 billion (EUR 45.7 billion) in assets transferred to the two other pension funds.

AP1’s CEO Kristin Magnusson Bernard notes that the task at hand at the moment is to continue with the current operations until the end of the year with the same mandate and level of ambition as previously, while also preparing for the transfer of assets at the end of December. “It’s both business as usual and very much business beyond usual,” Kristin Magnusson Bernard says. “It’s really two perspectives to keep alive at the same time. You need to think specifically and quite focused about how to maintain focus and ensure that you have the same sort of attention to