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AP Fonden 3 (AP3)

AP3 is an investor tasked with contributing to the
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Country

Sweden

AUM

$64

Performance (%, 1YR)

6.10

Chief Executive

Staffan Hansén

Chief Investment Officer

Jonas Thulin

Chair

Magdalena Wahlqvist Alveskog

Asset allocation

12.3% Equities Sweden

36.8% Equities Global

12% Government Bonds

4.1% Inflation-linked Bonds

6% Credits

13.9% Real Estate

6.9% Private Equity Funds

3.2% Infrastructure

2.4% Timberland

1.6% Other Strategies

Website
View the annual report

Asset allocation as of December 31, 2025. All information is as per the most recent annual report or other publicly available data via the fund's website

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AP3: TAA and why the market, not the media, is right about the US recovery

AP3 chief investment officer Jonas Thulin shows how AP3 has benefited from tactical asset allocation. He also argued that although the media is still reporting concerns about the US economy, the market is painting a healthier picture.

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June 23, 2025

AP funds reform: Expanded opportunity in private equity

Much anticipated reform of Sweden's five buffer funds will liquidate AP1, dividing assets between AP3 and AP4. Private equity specialist AP6 will also merge with AP2, expanding the opportunity for the private equity investor and securing the future of the specialist team.

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February 13, 2025

Time to walk: AP3 turns away from Europe despite bullish equity outlook

“Europe is great at discussion and regulation, but rather poor at actually doing business,” says Sweden's AP3 CIO, Jonas Thulin. “The equity market is harsh, and when it votes it walks out the door. This has been happening for a long time in Europe.”

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February 04, 2025

AP funds face consolidation as report flags scale and efficiency wins

A long-awaited review into Sweden's buffer funds suggests consolidation between the three Stockholm funds – AP1, AP3 and AP4 – stating that the advantages in terms of efficiency and scale outweigh the disadvantages of continued separation.

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Active, in-house and sustainability: The driving factors at AP3

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