Första AP-fonden (AP1) manage assets for Sweden’s pensioners and have many different asset types worth SEK 338 billion (US$ 36.50 billion) in total. Fund's mandate is to create the best possible return on these assets with at least 4% return in real terms after doing adjustment for the inflation.

AP1 invests in a broad global asset portfolio consisting of equities, fixed income securities, real estate, infrastructure, private equity funds, and hedge funds. In addition to equities and fixed-income securities, AP1 also makes alternative investments such as real estate and infrastructure, both indirectly and through direct ownership.