Swedish pension provider AMF reported a total return of 4.5 per cent in the first three quarters of 2026, up from 3.1 per cent in the same period last year.

The provider explained that equities have made a positive contribution to returns, while developments in the fixed income and foreign exchange markets have dampened the outcome.

The average annual return on traditional insurance has been 4.6 per cent over the past five years, 6.4 per cent over the past 10 years and 7.2 per cent over the past 15 years.

These returns have come in a year when the global economy and financial markets have shown resilience, despite continued uncertainty.

AMF explained there are signs that the economy is strengthening in Sweden, but differences between markets and asset classes have been significant.

Commenting on the results, AMF head of asset management, Katarina Romberg, said: “Valuations are high in parts of the stock market, while geopolitical uncertainty remains. In that situation, we do not want to be dependent on a single market or a single scenario.

“The breadth of the portfolio gives us the opportunity to both take advantage of opportunities and manage risk over time.”

The interim results also reported that AMF is continuing to develop its product range, with work underway on the AMF Through Life product.

AMF Through Life is an enhanced traditional insurance product designed to offer savers better return opportunities during the savings period and greater security in retirement.

AMF CEO, Tomas Flodén, said a pension should last a lifetime, not just for the years one is saving.

He explained that the purpose of AMF Through Life is to improve the return potential for when savers are still far from retirement, while increasing security when the time comes to start living off their savings.

The provider’s management fee for traditional insurance and the premiums income remained unchanged from Q3 2025 and amounted to 0.10 per cent and SEK 17.5bn, respectively.

Meanwhile, premiums for unit-linked insurance, reported as contributions to investment agreements, rose from SEK 2bn in Q1-Q3 2025 to SEK 2.1bn in Q1-Q3 2026.

Within AMF Fonder’s equity and fixed-income funds, assets under management increased from SEK 234bn in Q1-Q3 2025 to SEK 266bn in Q1-Q3 2026.

Meanwhile, the AMF Group, comprising the parent company AMF, AMF Fastigheter AB and AMF Fonder AB, managed a total of SEK 910bn at the end of Q3 2026.

---