Sweden’s KPA Pension made a 7.2 per cent return in the first half of 2021, it has reported.

Publishing its interim update for the first half of the year and the second quarter, the fund said that the stock exchanges continued to recover during the second quarter of 2021. It further strengthened its financial position through both increased assets under management and an increased solvency ratio.

Premium income for KPA Pensionsförsäkring AB amounted to SEK 13.5bn for the first half of 2021, slightly higher than the second quarter of the previous year, which amounted to SEK 13.2bn.

Assets under management in KPA Pensionsförsäkring AB amounted to SEK 223bn at the end of 2020 and increased to SEK 250bn during the first half of 2021, giving a total return was 7.2 per cent. The solvency ratio further strengthened to 191 per cent compared with 163 per cent after the second quarter last year.

In terms of sustainability, KPA Pension said carbon dioxide emissions in its own operations and the carbon dioxide footprint in its equity portfolio continue to reduce. Over the quarter the fund also increased its holding in properties and alternative investments and has invested in green bonds directly from Linköping Municipality, which will be used to build a swimming pool in Linköping.

Over the quarter it has also applied to convert to an occupational pension company.

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