Real-return targets and results

5/2/2017

RJ has fulfilled, by a substantial margin, the return targets adopted by the Board for the foundation's financial activities.

From the start, the Finance Department has had the objective of at least safeguarding the real value of assets, i.e. maintaining their value with reference to inflation. This aim was revised in 1997 to a real return of 5% over time.

In 2003 the Board adopted an investment policy aimed at attaining, on a long-term basis, an average real return of at least 4% a year. RJ expects this target, still in force, to allow an even level of research grants to be maintained and affords prospects of actively promoting and supporting academic research in the long term.

 Table of target fulfilment in relation to the targets adopted

 

Ten-year overview: results and return

Financial result in the ten-year period 2007–2016 amounted to SEK 6,659 million. The foundation's total return was 84.0%, while the benchmark index return was 77.9%. Accordingly, the Finance Department's active asset management exceeded the benchmark index of the reference portfolio by 6.0 percentage points altogether.

Altogether, real return amounted to 72.4%, which exceeded the long-term target by 24.4 percentage points. The average real return for the period from 2004 to 2016 was 8.2% a year, against the target of 4.0% a year.

Table showing ten-year overview: result and return 2007-2011

 

Table showing ten-year overview: result and return 2012-2016