Five-year summary

⁽¹⁾ Excluding exposure through SEK-listed companies with foreign domicile.
⁽²⁾ Employees with The Council of Ethics included, for further information see note 6.
Five year review	2024	2023	2022	2021	2020	2019
Income and inflows, SEK bn
Net flows to/from pension system	-2.0	-4.8	-4.7	-7.5	-7.9	-6.5
Profit for the period	51.3	36.2	-29.2	86.8	37.2	59.5
Fund capital as per December 31	549.1	499.8	468.4	502.3	423.0	393.7

Return and expenses total portfolio, %
Return before expenses	10.4	7.8	-5.7	20.8	9.8	17.7
Operating expenses	0.06	0.06	0.05	0.05	0.06	0.06
Commission expenses	0.01	0.02	0.02	0.03	0.03	0.03
Return after expenses	10.3	7.8	-5.8	20.7	9.7	17.6
Inflation	0.8	4.4	12.3	3.9	0.5	1.8
Real return after expenses	9.4	3.2	-16.1	16.2	9.1	15.6

SEK bn
Return	51.6	36.5	-28.9	87.1	37.4	59.8
Operating expenses	0.3	0.3	0.3	0.2	0.2	0.2
Return after expenses	51.3	36.2	-29.2	86.8	37.2	59.5

Annual return after expenses %
Five years	8.2	9.59	8.1	11.3	9.1	8.5
Ten years	8.4	8.68	9.3	11.1	8.7	8.7

Risk
Risk (1-yr standard deviation), %	6.0	5.0	8.4	5.2	10.8	4.2
Sharpe ratio	1.1	0.8	neg	4.0	0.9	4.3
Risk (10-yr standard deviation), %	7.0	7.0	6.9	6.3	7.0	6.0

Currency exposure
% of total portfolio 1)	23.1	17.9	19.0	21.1	17.5	19.5

External management
% of total portfolio	18	22.2	22	31	29	31

Asset management expenses % of assets under management
Operating expenses	0.06	0.06	0.05	0.05	0.06	0.06
Operating and commission expenses	0.07	0.07	0.08	0.08	0.09	0.09

No. of employees	72 2)	70 2)	66	61	57	58

Market value per asset category

Market value per asset class