FTN announces award decision in the procurement of European equity funds
The Swedish Fund Selection Agency, FTN, has made an award decision in the first procurement for the premium pension fund platform. Six fund managers are awarded fund agreements.
Today, March 25th, FTN publishes the award decision in the procurement of actively managed European equity funds large/mid cap. A total of six fund managers are awarded fund agreements for funds on the premium pension fund platform. These fund managers and funds are:
| Fondförvaltare | Fond |
|---|---|
| Abrdn Investments Luxembourg S.A. | European Sustainable Equity Fund |
| AMF Fonder AB | AMF Aktiefond Europa |
| JPMorgan Asset Management Europe | JPMorgan Funds Europe Sustainable Equity Fund |
| Nordea Investment Funds S.A. | Nordea 1 - European Stars Equity Fund (BP-EUR) |
| SEB Investment Management AB | SEB Europe Equity Fund |
| Swedbank Robur Fonder AB | Swedbank Robur Europafond A |
The decision means that approximately SEK 11 billion of the premium pension savers' assets will be allocated to these funds.
For pension savers, the procurement means that all funds in the category have undergone extensive controls and are of high quality. At the same time, the average fee for the funds in the category has been reduced from 0.48 percent to 0.21 percent.
"We are pleased with the outcome. It gives pension savers access to high quality funds at a lower cost”, says Mats Sjöstrand, chairman of the Swedish Fund Selection Agency.
The funds procured must, by law, be suitable, controllable, sustainable, cost-efficient and of high quality. In addition, the range of funds on the fund platform must provide freedom of choice for pension savers.
"This marks an important step towards our goal of providing savers high quality funds that provide a safer and higher pension," says Erik Fransson, executive director of the Swedish Fund Selection Agency.
Around 130,000 pension savers have holdings in funds affected by the procurement. The funds in the category that have not been allocated will be phased out from the fund platform after the decision has gained legal effect. Savers with funds that are removed from the fund platform are given the opportunity to make a new choice. However, savers do not need to do anything but are automatically moved to an equivalent, procured fund if no choice is made.
For further information, FTN has published a procurement report that can be accessed here.
For questions, please contact:
Viktor Ström, Head of Communications at the Swedish Fund Selection Agency
Viktor.strom@ftn.se
+46 73 321 64 46
About the Swedish Fund Selection Agency, FTN
FTN is a government agency tasked with procuring, reviewing and quality assuring funds for the Swedish premium pension system. The aim is for the fund platform to offer high-quality funds that provide safer and higher pensions for pension savers. There is currently around SEK 1,100 billion invested in private funds in the premium pension fund platform.
