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AP1 beefs up equity portfolio amidst concerns of growing global tensions

The negative half-year result at Swedish buffer fund AP1 echoes the performance of AP4, which announced negative total returns for the first half earlier this month.

Teresa Isele, Acting CEO of AP1. | Photo: AP1.

Investments at Sweden's AP1 buffer fund yielded a negative return of -1.8 percent after expenses over the first half of this year, the fund announces Thursday. Total assets declined from EUR 35.68 billion (SEK 365.5 billion) to EUR 34.65 billion (SEK 355 billion) over the first six months.

The result echoes the performance of AP4, whose CEO Niklas Ekvall described the first six months of 2020 as "brutal" last week, when announcing the negative total return of the first half at -2.5 percent.

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