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AMF's equity portfolio rose by 32.4 percent (decrease: 35.4) while the comparison index rose by 33.2 percent. At year-end, the market value of the portfolio amounted to SEK 92 billion (87.6), equivalent to 32.5 percent (34.5) of the total portfolio.
The return on the Swedish equities portfolio amounted to 50.5 percent (loss: 38.9), compared with 48.7 percent for the SIX Total Return Index. The return on the foreign portfolio amounted to 18.3 percent (loss: 32.9) after currency hedging. AMF's benchmark index rose 20.9 percent during the same period.
During the year, AMF Pension sold equities for SEK 17.8 billion net, of which equities for SEK 11.4 billion were sold in Sweden and SEK 4.8 billion in Europe. Asian equities were acquired for SEK 1.1 billion net.
Equity holdings by country, 31 December 2009
| Sweden |
46 % |
| UK |
4 % |
| Europe excl. UK |
12 % |
| USA |
28 % |
| Asia excl. Japan |
7 % |
| Japan |
3 % |
Equity holdings by sector, 31 December 2009
| Basic materials |
5 % |
| Information technology |
10 % |
| Public utilities |
2 % |
| Industry |
21 % |
| Oil & gas |
5 % |
| Healthcare |
9 % |
| Consumer goods |
9 % |
| Finance |
25 % |
| Consumer services |
10 % |
| Telecom operators |
4 % |
The ten largest Swedish equity holdings at 31 December 2009
|
|
Holding
SEKm |
Proportion of
portfolio % |
Price trend
2009 % |
| H & M |
3,934 |
9.4 |
30.1 |
| Ericsson |
2,770 |
6.6 |
12.1 |
| Nordea |
2,741 |
6.6 |
67.9 |
| Atlas Copco |
2,126 |
5.1 |
57.1 |
| Volvo |
1,907 |
4.6 |
43.2 |
| SEB |
1,873 |
4.5 |
41.5 |
| AstraZeneca |
1,852 |
4.4 |
9.2 |
| Skanska |
1,791 |
4.3 |
56.9 |
| Swedbank |
1,651 |
4.0 |
93.3 |
| Handelsbanken |
1,583 |
3.8 |
62.1 |
| Total, 10 largest |
22.228 |
53.3 |
|
Ten largest foreign equity holdings at 31 December 2008 (from FT Equities)
|
Country |
Sector |
Holding SEKm |
Proportion of portfolio % |
Price trend
2009, % |
| Medco Health Solutions |
USA |
Healthcare |
823 |
1.8 |
37.7 |
| Hewlett-Packard |
USA |
IT |
732 |
1.6 |
28.2 |
| Colgate-Palmolive |
USA |
Consumer goods |
723 |
1.6 |
8.2 |
| CVS Caremark |
USA |
Consumer services |
714 |
1.6 |
1.2 |
| IBM |
USA |
IT |
675 |
1.5 |
40.4 |
| Microsoft |
USA |
IT |
673 |
1.5 |
41.6 |
| Google |
USA |
IT |
673 |
1.5 |
82.0 |
| Transocean |
USA |
Oil & gas |
652 |
1.5 |
58.2 |
| Apache Corp |
USA |
Oil & gas |
615 |
1.4 |
25.0 |
| Morgan Stanley |
USA |
Finance |
590 |
1.3 |
66.6 |
| Total, 10 largest |
|
|
6.870 |
15.3 |
|
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