SWEDEN - The SEK220bn (€24.08bn) pension provider AMF Pension claims its 12.8% return on investments in the third quarter may be the highest in the Swedish market.

According to an AMF spokesperson, the average percentage return on investments was in the region of 11.7%.

“AMF has performed above this, and we believe no-one is going to beat us,” she told IPE.

The third-quarter results also revealed that AMF’s consolidation level was at 120% of premium-based insurance, while the industry average stood at 111%.

“All excess in company returns are going to customers,” said the spokesperson.

The high consolidation level will see the market’s highest interest paid back, pegged at 80% before taxes and fees.

AMF was unable to comment on which investments delivered the best returns. However, the spokesperson reiterated that the pension provider followed a largely risk-averse strategy.

Last month Bengt Björkén was named head of bond management at AMF Pension, replacing Lars Åberg, 58, who left at the start of September to fulfil an ALM role.

Björkén, 39, has been at AMF since 2001. He was involved with foreign exchange portfolio management.