• Sweden edition
 

Swedish state's holdings outperform Stockholm exchange

Published: 30 Dec 2009 14:23 GMT+01:00
Updated: 30 Dec 2009 14:23 GMT+01:00

The value of the Swedish state's stock portfolio grew by 55 billion kronor ($7.66 billion) in 2009, putting its current value slightly higher than it was in early 2007 before the financial crisis hit.

The value of the Swedish state's stock portfolio has grown by 55 billion kronor ($7.66 billion) in 2009. Its current worth is somewhat larger than it was in the first half of 2007 before the financial crisis hit, reports Svenska Dagbladet newspaper.

At the beginning of 2009, the state's shares in Nordea, Telia Sonera and SAS were valued at just under 95 billion kronor, the Svenska Dagbladet (SvD) newspaper reports.

As of Monday, the portfolio's value had grown by 58 percent to 150 billion kronor, outpacing the 48 percent growth posted by the Stockholm stock exchange during 2009.

According to the E24.se financial news website, Nordea has been the main growth driver for Sweden's investment portfolio.

Shares in the Nordic banking group have seen their value climb by 74 percent since the beginning of 2009. The value of SAS shares, on the other hand, has decreased by 32 percent.

The rise in the value of the Swedish state's holding puts it back in the top spot as largest shareholder on the Stockholm exchange, a position it lost earlier in the year to Hennes & Mauritz owner Stefan Persson.

Persson's shares in the clothing retailer are now valued at 116 billion kronor, up 32 percent for the year.

TT/The Local (news@thelocal.se)

Don't miss...X
Left Right

Your comments about this article

11:11 January 2, 2010 by Keith #5083
and to think that recently in The Local someone (I think from USA) was commenting about the terrible mess of Sweden's finances caused by the international financial crisis. Making hay while the suns shines is easy - making it in the midst of storms, now that's admirable.

Doubtless someone will come into this comment board bemoaning the "failures of capitalism" and the success of Nordea.I guess it will probably be Nordea's fault that it's been snowing.....!
12:51 January 2, 2010 by calebian22
keith,

I am a capitalist, however, read the article.

"Its current worth is somewhat larger than it was in the first half of 2007 before the financial crisis hit" So in two years time, Sweden's portfolio is only somewhat larger. So relatively no growth in two years?

Anyone who says the last 18 months hasn't been the result of Wall Street greed and low class Americans buying homes they couldn't afford in the first place hasn't been paying attention. When a world impacting economy like the US', has it's head up it's arse no one should be surprised when the fit hits the shan and the bubble bursts, sending ripples through the world markets.
03:13 January 3, 2010 by Keith #5083
Wall St greed was not, regrettably, restricted to Wall St and America. It was a virus that infected many nations and you don't have to be Icelandic or from Dubai to know that, do you? That is not to say that America catching a cold didn't cause pneumonia in some economies. My attentive point, however, was that Sweden has generally managed to avoid (through better planning, insight or prudence) some of the worst effects - as is demonstrated by the article on which we comment.

"somewhat larger' is a relative statement - in Iceland such a statement probably is interpreted as...hmmm..heaven, don't you think? So relatively no shrinkage in 2 years -catastrophic years? Many a fund manager would be happy,under the circumstances, with a performance to match the Swedish State's in the past 2 years.

But hey, everything is the fault of the Yanks nowadays,huh? For all the imperfections - it's still better than the Taleban,huh?
09:51 January 3, 2010 by calebian22
I agree, that greed is not restrictive regarding culture or nationality. No one foisted huge personal credit card debt on the British citizenry for example. However, British greed, or Icelandic greed doesn't have the same world impact on the world economy.

Actually the article didn't say no shrinkage. It said the that the fund is somewhat larger than at the beginning of 2007. My guess, since I don't have access to the account, is that it has taken a huge hit like most funds in the last two years and has recovered in the last couple of quarters, hence the sounds of lamentations in the previous quarters. But you are right, in the final analysis, a lot of fund managers would be happy with Sweden's performance.

And yes, America is awesome in spite of it's faults.
04:25 January 4, 2010 by Keith #5083
I also agree that the impact on the world economy has been,in earlier decades, substantial. The continuing failure of self-policing or governmental controls of Wall St, following their shameful behaviour, has however considerably damaged any shreds of financial management expertise that had survived the last 2 years.

The 'no shrinkage' comment was rhetorical and not a factual reference to the article :)

But it's very pleasant on such a comment board to achieve some measure of consensus. Sincere thanks for our 'discussion' and have a Happy,healthy and 'profitable' New Year.
Today's headlines
Sponsored Article
On the move: Sweden's shifting mobility trends
House keys: Shutterstock.

On the move: Sweden's shifting mobility trends

Finding somewhere to live when you move to Sweden is a challenge. With changes afoot The Local caught up with an expert from letting agency Residensportalen to find out in what direction the market is going, and how Google Glasses may just help you find your dream home. READ () »

The Local List
Ten most disgusting Swedish foods
Salty liquorice, anyone? Photo: Anders Wiklund/TT

Ten most disgusting Swedish foods

Swedish food is, of course, a matter of taste. But it's mostly disgusting. Our loyal followers on Twitter and Facebook shared what they thought were the worst of them all. READ () »

Sweden wants cruise missiles 'for defence'
Defence Minister Karin Enström. File photo: TT

Sweden wants cruise missiles 'for defence'

The Swedish government has announced plans to beef up its defence forces by fitting its fleet of Gripen fighter jets with long-range cruise missiles. READ () »

Swede of the Week
Sweden's oldest would-be MP: 'They promised I wouldn't get in'
Swedes vote in the 2010 elections. File photo: Dan Hansson/TT

Sweden's oldest would-be MP: 'They promised I wouldn't get in'

Gösta Arvedson, 89, is the oldest Riksdag candidate in Sweden, but our Swede of the Week explains that the Liberal Party (Folkpartiet) had to make some unusual promises for him to put his name forward. READ () »

Elections 2014
Most Swedes lack info ahead of EU vote
The Green Party is one of only two parties devoting their websites to the EU elections. Here campaign manager Emma Rung presents the party's posters. Photo: Leif R Jansson/TT

Most Swedes lack info ahead of EU vote

The majority of Swedes feel the country's political parties are not doing enough to inform them about the upcoming European Parliament elections. Only two of the eight parties have dedicated their homepages to the May 25th polls. READ () »

Fatal Norrköping Brawl
Local church tried to stop Norrköping murders
Swedish police on the scene following Monday's fatal brawl. File: TT

Local church tried to stop Norrköping murders

The Syrian-Orthodox Church in Ektorp had tried to quell tensions between two rival families just hours before bad blood spilled into a massive brawl and two brothers lost their lives. READ () »

JobTalk Sweden
'Foreigners don't need to show banks Swedish ID'
The bridge that connects Sweden to the European continent. File: L.E. Daniel Larsson/Flickr

'Foreigners don't need to show banks Swedish ID'

The Swedish agency that helps Europeans fight impediments to the EU principle of free movement has revealed an increase in complaints, including one from a foreign citizen unable to open a bank account in Sweden. READ () »

Eurovision 2014
Pig heart shatters in Sweden's Eurovision clip
Sanna Nielsen in the new clip. Photo: YouTube (screenshot)

Pig heart shatters in Sweden's Eurovision clip

Sweden's Eurovision hopeful Sanna Nielsen released the official video for the song Undo on Wednesday, a clip featuring leather, slow motion destruction, and a frozen pig's heart and some violence. READ () »

Software robot pinches Swedish flats in seconds
Swedish apartments. File: The Local

Software robot pinches Swedish flats in seconds

A Swedish landlord suspects that a property fixer has set up a software robot to sign up for new flats on the market within seconds, and is charging house hunters to use the service. READ () »

Swedish zoo fire 'kills only the spiders'
Photo: Johan Nilsson/TT

Swedish zoo fire 'kills only the spiders'

Twenty-five fire fighters were on hand on Wednesday night when a fire broke out in a southern Sweden animal park. The vast majority of the animals were unharmed, but the cluster of spiders wasn't so lucky. READ () »

RECEIVE OUR NEWSLETTER AND ALERTS
Shutterstock
Sponsored Article
On the move: Sweden's shifting mobility trends
finest.se
Gallery
People-watching April 23
TT
Gallery
Inside the 850-year-old king's coffin
Features
Sponsored: South-eastern Sweden offers Öland beaches and more
Gallery
Swedish underwear shop puts staff in front of the camera
Gallery
IN PICTURES: The Local's Property of the Week - Täby
Sponsored: India+Sweden Week - India Unlimited
Features
Sponsored: India+Sweden Week - A film, food, and finance feast
National
University applications rocket to record high
finest.se
Gallery
People-watching April 18-20
TT
Society
Kids in Victorian garb mark Swedish Easter
Shutterstock
National
Swedish MP ordered chemtrail probe
Society
Swedish supermarket Ica pulls contested Easter commercial off air
Advertisement:
Kungahuset
Society
Swedish royals set baptism date for princess
finest.se
Gallery
People-watching April 16
Politics
Who's the prime minister's heir?
Alfie Atkins
Society
Are children's books the key to families integrating in Sweden?
National
'Sweden Dem protests cater to party's martyr image'
National
'Swedish research grants were fantastic, but now it's like Australia'
Society
Only in Sweden: The ten problems you'd never encounter elsewhere
National
Swedes stopped to take my picture, but didn't look me in the eyes
Business & Money
A swipe of the hand replaced cash and cards in Lund
YouTube
Features
Video: Oliver Gee finds out how to embrace The Swedish Hug
TT
National
Abba duo hints at reunion
Private
National
Flash mobs hug it out across Sweden
Stockholm School of Economics
Sponsored Article
Why a bachelor's degree is no longer enough
Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Germany

More news from Germany at thelocal.de

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

Blog Update: The Diplomatic Dispatch

28 October 15:16

The Green Growth Group Summit »

"Today on the 28 October in Brussels, a large group of key EU Ministers and business people, including UK Secretary of State for Energy and Climate Change Edward Davey, and Swedish Environment Minister Lena Ek, will meet to discuss green growth. They all have a stake in resolving a challenge which, although it is crucial..." READ »

718
jobs available
Swedish Down Town Consulting & Productions
Swedish Down Town Consulting & Productions is an innovative business company which provides valuable assistance with the Swedish Authorities, Swedish language practice and general communications. Call 073-100 47 81 or visit:
www.swedishdowntown.com