Alecta’s defined-contribution savings product Alecta Optimal Pension with 60 percent equities yielded a return of 9.6 percent for the full year 2025.
2025 was a strong year for Alecta Optimal Pension. All asset classes developed positively, with equities at the top, with a return of 14.1 percent. Fixed income assets and alternative investments have also developed well, with a return of 3.2 and 4.5 percent, respectively. A high degree of currency hedging has also protected the value of our foreign assets as the krona strengthened last year. A single year is a short time when talking about pension savings, but we are of course happy to give our customers a good return for 2025, says Pablo Bernengo, Head of Asset Management at Alecta.
The information relates to the investment policy that applies to private customers with ITP 1 and ITPK up to the age of 63, i.e. a portfolio with 60 percent equities.
Shares
The equity portfolio, which consists of approximately 200 holdings, delivered a strong performance thanks to both good stock selection and successful allocation across sectors and regions. Investments in the tech and financial sectors in particular contributed to the good returns.
Interest-bearing securities
In 2025, bond yields rose in Continental Europe and Sweden, but despite this, the government bonds in the fixed income portfolio delivered a positive return. Credit bonds had a good relative return in relation to government bonds, which contributed positively to the return for the fixed income securities. The alternative credit portfolio showed a very good return.
Alternative investments
All three investment areas, Private Equity, Infrastructure and Real Estate, contributed positively to the return. Private Equity performed best.
Other impact on returns
Alecta’s high currency hedging ratio protected the value of the foreign assets when the Swedish krona strengthened in 2025.
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