Today, September 9, 2024, the Swedish Fund Selection Agency, FTN, announces the procurements of the fund categories actively and passively managed Swedish equity funds, focusing mainly on large and mid-cap companies. The two procurements cover more than SEK 155 billion and affect over 1 million pension savers. Fund Managers who wish to participate in the procurements have until October 31, 2024, to submit tenders.
FTN is today announcing two new procurements. One for actively managed Swedish equity funds and one for passively managed Swedish equity funds. Both categories have a main investment focus on equities in large and mid-cap Swedish companies. The actively managed Swedish equity funds category comprises approximately SEK 96 billion in premium pension fund capital and passively managed Swedish equity funds approximately SEK 59 billion.
There are today 23 actively managed Swedish equity funds and 11 passively managed Swedish equity funds on the fund platform. FTN intends to procure a maximum of 10 actively managed Swedish equity funds and a maximum of 5 passively managed Swedish equity funds.
The two fund categories are procured through two separate procurements and fund managers wishing to participate in both therefore need to submit separate tenders.
“We hope that all fund managers who consider themselves to have competitive funds will submit tenders”
‘Swedish equity funds are an important building block for many savers and an important product for many Swedish fund managers. We hope that all Fund Managers who consider themselves to have competitive funds will submit tenders and contribute to a higher and more secure pension for pension savers’, says Erik Fransson, executive director of The Swedish Fund Selection Agency.
FTN published preliminary procurement specifications on 24 May 2024 for the two procurements that are now being given notice. This was to allow the market to comment and prepare for the procurements. The procurement specifications now published do not contain any significant differences compared to the preliminary specifications.
The fund agreements for the affiliated funds affected by the procurements will be terminated. However, the funds will remain available for trading on the fund platform until the procurements are finalised and the funds awarded fund agreements replace the affiliated funds.
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