SWEDEN - The pension foundation of Swedish local authorities and regional governments returned 9.7% for the full year 2010 after tax, with an average return of 5.5% over a five-year period.

The foundation currently has approximately SEK1.2bn (€134m) in assets.

Each employer - local or regional authority - is responsible for its pension liabilities within the foundation, as well as the assets within the foundation.

In other news, Kåpan Pension, the pension fund for government employees, with assets of SEK42.7bn (€4.8bn), returned 8.2% in 2010, with equities performing particularly well, it said.

The fund's asset allocation at the year-end was 52% in fixed income, 31% in equities, 10% in real estate, infrastructure and forestry and 7% in 'other' investments, including hedge funds and private equity.

On the equity side, 16% was allocated to emerging markets, 42% internationally and the remainder in Sweden.

The pension fund said its solvency ratio also increased from 134% to 144%.

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