The Swedish Fund Selection Agency announces award decision in the procurement of global equity funds (index)
The Swedish Fund Selection Agency announces its award decision in the procurement of global equity funds (index) for the premium pension fund platform. Five fund managers are awarded the opportunity to sign contracts to offer in total six funds on the platform.
The Swedish Fund Selection Agency today, 31 October, announces its decision on the procurement of the fund category global equity funds (index) with a focus on large and mid-cap companies. Five fund managers are awarded the opportunity to sign contracts to offer in total six funds on the premium pension platform, three of which are new to the platform.
These Fund Managers and Funds are:
| Fund Manager | Fund |
|---|---|
| Handelsbanken Fonder AB | Handelsbanken Developed Markets Index Criteria |
| Handelsbanken Fonder AB | Handelsbanken Global Index Criteria |
| Mercer Global Investments Managment Limited | Mercer Passive Sustainable Global Equity UCITS CCF |
| Skandia Fonder | Skandia Global Exponering |
| Storebrand Asset Management AS | Storebrand Global Indeks |
| Swedbank Robur Fonder AB | Swedbank Robur Acess Global |
The award decision means that just over SEK 51 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 0.143% to 0.046%.
Approximately 300,000 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. If no choice is made the savers will automatically have their savings allocated to an equivalent procured fund.
“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.
“Global index funds are an important foundation for many long-term pension savers and we welcome the outcome of the procurement that lowers the fees for all savers in the category. Premium pension savers will now have access to high-quality index funds at fees normally only available to large professional investors”, says Erik Fransson, Executive Director 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.
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.
