FTN: Information for the procurement of actively managed Swedish equity funds and Swedish index funds

27 May 2024

FTN publishes on its website:

The Swedish Fund Selection Agency today, 24 May 2024, presents preliminary procurement specifications for the procurement of actively managed Swedish equity funds with a primary focus on large and mid-cap companies and Swedish index funds with a primary focus on large and mid-cap companies.

The Swedish Fund Selection Agency today announces that next in line for procurement will be actively managed Swedish equity funds and Swedish index funds. The procurements will be carried out in parallel and notice is planned to be made after the summer.

The procurement of actively managed Swedish equity funds with a main focus on large and mid-cap companies covers approximately SEK 88 billion in premium pension assets*. The procurement of Swedish equity index funds with a main focus on large and mid-cap companies covers approximately SEK 55 billion in premium pension assets*. In total, the two procurements affect just over 1 million savers.

The procurement of actively managed funds has a minimum permitted active risk of 2 per cent relative to the fund’s benchmark index, while the procurement of index funds has a maximum permitted active risk of 2 per cent relative to the fund’s benchmark index. The category index in both procurements is Six Portfolio Return Index (SIXPRX). There is no active risk limit between the fund’s benchmark and the procurement’s category index. Both procurements are for UCITS funds with trading currency in SEK.

The full preliminary procurement specifications are attached in pdf-format at the end of this article. Please note that these are drafts. The final and governing specifications will be presented when notice is made for the procurement.

There are 34 funds in the Sweden category on the premium pension fund platform today. Of these, 23 are actively managed funds and 11 are index funds. The Swedish Fund Selection Agency’s decision means that these groups are handled as two separate procurements. Fund managers wishing to participate in both procurements need to submit separate tenders. In connection with the announcement of the procurement, the fund agreements will be terminated for funds in the existing category, but the funds will remain on the fund platform until the procurement is completed.

FTN is sharing these preliminary procurement specifications to give potential tenderers the opportunity to prepare and submit questions and comments. Questions and comments can be sent to procurement@ftn.se until June 9th. FTN will not be able to answer all questions, but will review and consider all comments received.

Source: FTN
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