Sweden’s church pension fund, Krykans Pension, made a return of 5.6 per cent in 2020 compared to 16.2 per cent in 2019, it has revealed.

After passing the SEK 20bn mark for the first time in 2019, ending the year at SEK 20.8bn, the fund steadily increased its assets in 2020, to end the year on SEK 21.9bn, up by SEK 1.1bn.

In addition, the solvency ratio increased during the year to 198 per cent, up from 194 per cent at the end of 2019. Operating expenses decreased in absolute terms by SEK 8m and the operating expense ratio decreased to 0.19 per cent (0.24 per cent - 2019). The capital cost ratio remained unchanged at 0.04 per cent (0.04 per cent - 2019).

The full-year results show positive progress since the half-year results for the year were published, up to the end of June 2020. During the first half of the year, capital amounted to SEK 20.9bn and the total return was -0.9 per cent, with a solvency ratio of 184 per cent.

Krykans Pension covers employees of the Church of Sweden and has over 91,000 members. In November last year, the pension fund received permission to conduct business in accordance with the new occupational pension legislation and changed its name to the Krykans Pension.

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