Sweden’s Third (AP3) and Fourth (AP4) National Pension Funds have completed a major system upgrade.

The completed project has replaced multiple legacy platforms with a single, integrated front-to-back solution supporting the full investment workflow, the funds said.

It covers analysis and order placement to portfolio management, risk, performance, compliance and financial reporting and is designed to provide a future-proof foundation for the funds’ business and processes.

Commenting, AP3 CEO, Staffan Hansén, and AP4 CEO, Niklas Ekvall, said the implementation of the system was “preceded by extensive preparations”.

“Through collaboration between the funds, we have created important synergies and are now well equipped for future needs,” they said.

By replacing multiple legacy systems with a single, modern, cloud-based and integrated platform, the funds said they have secured more flexible and efficient support to strengthen business processes and improve operational efficiency.

The new platform enables the entire investment management process to be handled in an integrated way, while also supporting continued close collaboration and joint development between the two funds.

AP3 CFO and CRO, Eva Boric, and AP4 head of risk and operations, Nicklas Wikström, said: “AP3 and AP4 have been able to leverage each other’s experience and expertise, which has strengthened our ability to meet future requirements and challenges.”

The transition to the new system platform was carried out in collaboration with system provider SimCorp, as previously announced in 2023, alongside Clara Consulting, Northern Trust and JP Morgan.

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