The Swedish Fund Selection Agency announces award decision in the procurement of European small-cap equity funds
The Swedish Fund Selection Agency has made its award decisions in the procurement of actively managed European equity funds focusing on small-cap companies for the premium pension fund platform. Four fund managers are awarded fund agreements for four funds. Two of the funds have previously been available on the fund platform and two are new.
Today, 28 May, the Swedish Fund Selection Agency announces its decision in the procurement of actively managed European small-cap equity funds. These fund managers and funds are:
| Fund Manager | Fund |
|---|---|
| Danske Investment Management A/S | Danske Invest SICAV Europe Small Cap (New) |
| J.P. Morgan Asset Management (Europe) S.à.r.l | JPMorgan Funds - Europe Sustainable Small Cap Equity Fund (New) |
| SEB Funds AB | SEB Europafond Småbolag |
| Swedbank Robur Fonder AB | Swedbank Robur Small Cap Europe |
For pension savers, the procurement means that all the funds in the category have undergone an extensive evaluation and are of high quality. The procurement affects approximately 68,000 savers with total assets of SEK 5.5 billion. As just over 99% of savers have previously been invested in the two funds that remain, the procurement means that the majority of savers can keep the same fund as before but at a lower fee.
“The outcome of the procurement means lower fees and better possibilities for supervision. It will therefore contribute to the objective of higher and more secure pensions for savers,” says Mats Dillén, Chairman of the Swedish Fund Selection Agency.
"Positive effect on value growth"
By law, the procured funds 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.
“For the vast majority of savers in the category, the procurement means that they will keep the same fund at a lower fee, which will have a positive effect on value growth over time,” says Erik Fransson, Executive Director of the Swedish Fund Selection Agency.
The three funds in the category that have not been awarded a contract will, after a phase-out period, be deregistered from the fund platform. Just over 700 savers hold units in the three funds that will be removed from the fund platform, these savers will be given the opportunity to make a new choice. If the saver does not make an active choice, the assets will automatically be transferred to an equivalent procured fund.
For further information, FTN has published a procurement report that can be accessed here.
For questions, please contact:
Viktor Ström, Head of Communications, the Swedish Fund Selection Agency, FTN.
+46 73 321 64 46
viktor.strom@ftn.se
About the Swedish Fund Selection Agency, FTN
FTN is a government agency tasked with procuring, monitoring, 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 1,300 billion is currently invested in private funds on the Premium pension fund platform.
