Sweden’s Fund Selection Agency (Fondtorgsnämnden, FTN) launched a new tender this morning, seeking bids for actively-managed Swedish and European small-cap equity funds for the reformed premium pension funds platform.
The agency, which is in the process of re-populating the platform with quality-assured fund offerings, said this latest procurement covers approximately SEK46bn (€4.2bn) of premium pension assets and affects some 334,000 savers in the first-pillar system.
It said there were currently 14 actively-managed Swedish small-cap funds being offered to premium-pension savers, with around SEK40bn of capital, and about SEK6bn invested between the five European small-cap funds now being offered.
Indicating the extent to which it will reduce the number of funds offered under the old system, which allowed in all providers meeting certain criteria, the FTN said it intends to procure 10 Swedish small-cap funds and four European small-cap funds.
Erik Fransson, executive director of the FTN, said: “Investing in smaller companies generally involves higher risk but has also yielded high returns in the long term.
“The FTN deems that these two categories are suitable for the premium pension fund platform and that they contribute to the freedom of choice for savers,” he said.
Fund managers have until 16 June 2025 to submit tenders for the two categories via the digital procurement platform, e-Avrop, the FTN said.
The agency also announced today that the next fund category to be procured is actively-managed IT and communication funds, with a focus on large and mid-cap companies.
There are currently 10 actively-managed funds in this sector on the funds platform, it said, with the category covering around SEK124bn of capital.
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