Swedish occupational pensions provider Alecta has reported a negative return for its flagship defined contribution product in the first quarter of 2026.

According to its latest quarterly results, Alecta Optimal Pension delivered a return of -3 per cent for the period from 1 January to 31 March 2026, compared with -2 per cent in the same period last year.

Despite the quarterly decline, the product continued to deliver positive long-term performance, achieving an annualised return of 5.3 per cent over the past five years.

The figures relate to the default portfolio with a 60 per cent equity allocation, highlighting the sensitivity of returns to equity market movements.

Meanwhile, assets under management for Alecta Optimal Pension increased to SEK 341bn at the end of the quarter, up from SEK 299bn a year earlier.

Within defined benefit (DB) insurance, the provider reported a collective consolidation level of 163 per cent as at 31 March 2026, up from 161 per cent a year earlier.

This metric, which measures assets relative to liabilities, acts as a buffer against market fluctuations and insurance risks.

Managed capital in Alecta’s DB portfolio rose to SEK 1,038bn, compared with SEK 1,002bn in the corresponding period last year.

At group level, Alecta’s solvency ratio stood at 200 per cent, an increase from 197 per cent a year earlier, underscoring the provider’s continued financial strength.

Total assets under management across the group reached SEK 1,379bn, up from SEK 1,301bn, while costs remained low, with a management expense ratio of 0.07 per cent and an asset management expense ratio of 0.027 per cent.

Commenting on the results, Alecta said it continues to focus on delivering competitive returns, strong customer outcomes and cost efficiency for its 2.9 million individual customers and 37,000 corporate clients.

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