Posten’s Pension Fund is tasked with optimally managing the funds transferred to it by PostNord. Posten AB, Posten Meddelande AB and Posten Logistik AB insure the bulk of their pension liabilities through Posten’s Pension Fund.
At year-end 2008, the market value of Fund assets totalled approximately SEK 12.2 billion and pension liabilities totalled approximately SEK 12.0 billion.
Posten’s Pension Fund had a negative return of -12.3 per cent in 2008, after all expenses and tax. The annual return since inception, after all expenses and tax, is set forth in the table below.
Net annual return (after expenses and tax)
Pension Fund assets are managed by Fund CEO Dag Hasslegren, Deputy CEO Ulrika Bagge, Maria Björklund, Eric Loberg, Ulla Nilsson, Carl Nordberg and John Wivstam.
Pension Fund activities are regulated by an Investment Policy established by the Fund’s Board of Directors.
The funds transferred to the Pension Fund by PostNord must produce a reasonable return, and this entails an element of risk. In order to prevent this risk from becoming too great, the Fund diversifies its investments among various types of asset categories. Fund assets at the close of 2008 and 2007 were allocated as follows:
| Market value of assets |
2008 |
2007 |
|
|
SEKm |
% |
SEKm |
% |
| Inflation-linked bonds |
4 338 |
35 |
4 532 |
32 |
| Other interest-bearing assets |
1 097 |
9 |
2 200 |
16 |
| Total interest-bearing assets |
5 435 |
44 |
6 732 |
48 |
| Property |
1 428 |
12 |
1 064 |
7 |
| Infrastructure |
611 |
5 |
176 |
1 |
| Private Equity |
349 |
3 |
225 |
2 |
| Shares |
1 889 |
15 |
3 357 |
24 |
| Hedge funds |
2 521 |
21 |
2 603 |
18 |
| Total other assets |
6 798 |
56 |
7 425 |
52 |
| Total |
12 233 |
100 |
14 157 |
100 |
Inflation-linked bonds and other interest-bearing investments are chiefly managed by the Fund itself. Other assets are managed by a number of fund managers around the world, who invest in various funds.
Composition of the Pension Fund’s Board of Directors
Chairman
Michael Sohlman, Executive Director of the Nobel Foundation
Ordinary members
Bo Friberg, CFO Posten
Pär-Ola Larsson, Pension Specialist Posten
Kaj Nyman, Controller Posten
Deputies
Magnus Wilsby, Financial Director Posten
Björn Hörnesten, Personnel Specialist, Posten
Martin Andersson, Finance Specialist Posten
Employee-appointed board members
Ordinary members
Bengt Krantz, SACO Posten
Tom Tillman, SEKO Posten
Kjell-Åke Öström, ST at Posten
Deputies
Maria Johnsson, SACO-Posten
Per Backman, SEKO Posten
Torbjörn Larm, ST at Posten
Composition of the Investment Committee
Michael Sohlman, Executive Director of the Nobel Foundation (chair)
Dag Hasslegren, CEO of Posten’s Pension Fund
Åke Nithenius, Senior Project Manager, Nordea
Jakob Nordin, CEO, Sommarviken Byggproduktion AB
Tomas Pousette , Chief Economist, SBAB (Swedish Housing Finance Company)
John Wivstam, Senior Advisor, Posten’s Pension Fund
Auditors of Posten’s Pension Fund
Ernst & Young, Anna Peyron and Mona Alfredsson
Contact information
Posten’s Pension Fund
105 00 Stockholm
Visiting address: Mäster Samuelsgatan 10, Stockholm
Telephone: +46 8 781 10 00
Telefax: +46 8 781 28 17
Corporate identity number: 802404-2635
The registered office of the Fund is in Stockholm.