FTN gives notice for procurements of Nordic large-cap equity funds and Nordic small-cap equity funds
30 April 2024
ftn publishes on its website:
The Swedish Fund Selection Agency, FTN, is today giving notice for the procurement of the fund categories Nordic large-cap equity funds and Nordic small-cap equity funds. The two procurements comprise a total of approximately SEK 18 billion and around 140,000 savers. Fund managers who wish to participate in the procurements have until 10th June 2024 to submit tenders.
FTN is today announcing two parallel procurements. The first procurement is for actively managed equity funds with a main investment focus on Nordic large and mid-cap companies. The second procurement is for actively managed equity funds with a main investment focus on Nordic small-cap companies.
There are 11 Nordic equity funds with a primary focus on large and mid-cap companies on the fund platform today. The pension savers have a total capital of just over SEK 9 billion invested in these funds.* FTN intends to procure a maximum of four funds in the category.
Currently five funds on the fund platform are categorised as Nordic small-cap equity funds. The pension savers have a total capital of just under SEK 9 billion invested in these funds.* FTN intends to procure a maximum of four funds in the category of Nordic small cap funds.
“Improve fund offering as quickly as possible”
In connection with the notice of the procurements, the fund agreements for the affiliated funds affected by the procurements will be terminated. However, the funds will continue to be available on the fund platform until the procurements are completed and funds that have been awarded fund agreements replace the affiliated funds.
“Our aim is to improve the fund offering for pension savers as quickly as possible. Currently, we are already on procurement four and five. Simultaneously, we are working to further develop our processes to ensure efficiency for both us and the tenderers”, says Erik Fransson, executive director of FTN.
In March, FTN published preliminary procurement specifications for the two procurements that are now being announced. This is to give the market the opportunity to submit comments and prepare for the procurements. The procurement specifications now published contains no significant differences compared to the preliminary specifications.
Important that tenders are complete
he notice of procurements, which takes place today on 29th April 2024, means that fund managers can submit tenders, which must be received by FTN no later than 10th June 2024 digitally via the procurement platform e-Avrop. Participation requires the payment of a tender fee, which must be paid at the latest when the tender is submitted. Fund managers wishing to participate in both tenders must submit separate tenders.
In order for tender to be evaluated by FTN, the fund and the fund manager must fulfil the requirements in the procurement as well as general requirements, and the tender submitted must be complete and accurate. To ensure equal treatment of all potential tenderers, no information related to the ongoing procurements will be shared separately with individual tenderers. Fund managers have the opportunity to ask questions about the procurements via e-Avrop until 31st May 2024.
Source: ftn
