The Swedish Fund Selection Agency announces award decision in the procurement of European equity funds (index)
The Swedish Fund Selection Agency has made award decisions in the procurement of European equity funds (index) for the Premium pension fund platform. A total of four fund managers have been awarded.
The Swedish Fund Selection Agency today, October 31, announces its decision on the procurement of the fund category European equity funds (index) with a focus on large and mid-cap companies. A total of four fund managers are awarded the opportunity to sign contracts for funds for the Premium pension fund platform. These fund managers and funds are:
| Fund Manager | Fund |
|---|---|
| Handelsbanken Fonder AB | Handelsbanken Europa Index Criteria |
| Skandia Fonder | Skandia Europa Exponering |
| Storebrand Fonder AB | Storebrand Europa |
| Swedbank Robur Fonder AB | Swedbank Robur Access Europa |
The award decision means that just over SEK 16 billion of premium pension savers' funds will be allocated to these funds.
For pension savers, the procurement means that all the funds in the category have undergone extensive control and are of high quality. At the same time, the average fee for the funds in the category is reduced from 0.135% to 0.046%.
“The Swedish Fund Selection Agency has now completed a total of three procurements, including the two recent awards, marking a significant step toward a fully procured fund platform”, says Mats Dillén, Chairman of The Swedish Fund Selection Agency.
By law, the funds procured must be suitable, controllable, sustainable, cost-efficient and of high quality. In addition, the range on the fund platform must provide pension savers with freedom of choice.
“The procurement result shows that we have a procurement process that ensures a high level of target fulfilment. The significant reduction in the fee level, with lower fees for all savers, combined with the increase in quality is positively impacting pension savers", Says Erik Fransson, Executive Director of The Swedish Fund Selection Agency.
Approximately 180,000 pension savers have holdings in the 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 become final. Savers with funds removed from the fund platform will be given the opportunity to make a new choice. However, if no choice is made, savers do not need to do anything and will be automatically moved to an equivalent procured fund.
For further information, FTN has published a procurement report that can be accessed here.
For questions, please contact:
Katarina Ärlestad, Communications at the Swedish Fund Selection Agency, FTN.
katarina.arlestad.tullsten@ftn.se
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 fund platform aims to offer high-quality funds that provide safer and higher pensions for pension savers. Around SEK 1,230 billion is currently invested in private funds on the Premium pension fund platform.
