5.01.2023

It never seems to end

The saying that "no news is good news" is certainly true for Alecta. Unfortunately, additional information has emerged about the company.

Alecta has been forced to write down the value of its holding in one of the real estate companies it has invested in by 6% of the invested value, which corresponds to roughly $0.26 billion. This write-down, along with previous losses in First Republic Bank (FRC.PRH), Signature Bank Common Stock (SBNY) and SVB Financial Group Common Stock (SIVB) amounts to just over $2 billion.

Alecta manages pension money for 2.6 million Swedes, plus they are listed as the first choice for all civil servants. How big the damage will be for all pension savers in reality remains to be seen.


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