Governance

The Swedish Parliament has assigned Första AP-fonden the mission of managing assets in the Swedish income pension system. The Fund’s operations are regulated by the guidelines in the Swedish National Pension Funds Act.

Like the other AP funds, Första AP-fonden is a government entity. However, the AP funds are more independent than most other government entities, since their operations are regulated only by law and not by directive.

The Government appoints the Fund’s Board of Directors, which in turn appoints a Managing Director. The Government also appoints the Fund’s independent auditors. Every year, the performance of the AP funds is evaluated by order the Swedish Government and the results are presented in a communication to the Swedish Parliament (read more under “Operating goals and government evaluation”).