Sweden: Pensions and Investment News and Analysis
Workplace pension provider Alecta hit the Swedish headlines for all the wrong reasons recently – first due to a sell-off in US equities. Then came a governance issue; then a write down in local property holdings. As Alecta seeks to repair the reputational damage, commercial providers like Skandia are calling for a more commercially friendly open fund platform in this part of the workplace pension system, place of the current single provider scheme. Yet Sweden has spent the best part of a number of years rolling back and simplifying its Premium Pension system (part of the state pension), where an open platform led to unsuitable fund listings and over complexity. Meanwhile a reform of the main Swedish buffer funds could see the number reduced from five to three.
Pension Funds in the Nordic Region - Country Report
Nordic Region Report 2024: Denmark’s government urges pension funds to support defence
Danish schemes embrace defence – as long as ESG criteria and international conventions are adhered to
TOP SWEDISH PENSION FUNDS 2024
Pension fund/entity | Assets (€’000)
- Alecta Pensionsförsäkring | 111,831,667
- Sjunde AP-fonden (AP7) | 98,770,760
- AMF | 74,485,838
- Fjärde AP-fonden (AP4) | 45,065,237
- Tredje AP-fonden (AP3) | 44,875,328
©IPE Research; View the Top 1000 European Pensions Funds 2024 for a comprehensive market overview
AMF finds banks increasingly luring its pension clients with mortgage discounts
Swedish blue-collar pension fund says occupational pension seen more and more as ‘commodity to be exchanged for temporary discounts’
Swedish FSA warns of risks for consumers as Q1 pension transfers hit €2bn
Watchdog calls occupational pension majors to its HQ to talk about putting consumer needs first when moving pensions
Next year’s Swedish FTN plan includes SEK145bn active IT equities mandates
Fund Selection Agency outlines 2025 procurement plan for four actively managed premium pension fund categories and one index-based
Sweden’s FTN launches biggest tender yet, €17bn global active equities
Fund Selection Agency sets 16 December deadline, confirms bulk of preliminary specifications
Sweden’s AP buffer funds criticise government proposals to merge them
AP1, AP2 argue that it’s impossible to say whether restructuring should happen, since government proposals are ‘incomplete’ or have ‘decisive flaws’
TOP MANAGERS: NORDIC REGION INSTITUTIONAL ASSETS
Company | Assets (€m)
- SEB | 65,000*
- BlackRock | 61,541
- DNB Asset Management | 53,712**
- Nordea Asset Management | 52,442
- Storebrand Asset Management | 35,386***
- State Street Global Advisors | 29,768
- Nykredit Asset Management | 26,163
- Northern Trust Asset Management | 22,607
- Morgan Stanley Investment Management | 8,936*
- Amundi | 8,344
As at 30.9.3.23, *30.16.23, **15.11.23, ***10.6.22
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IPE BEST PENSION FUND IN THE NORDIC REGION AWARD WINNERS
Nordic Region
- 2023 - The Swedish Fund Selection Agency
Denmark
- 2022 - Industriens Pension
- 2021 - PensionDanmark
- 2020 - PensionDanmark
- 2019 - ATP | PensionDanmark
Norway
- 2022 - KLP
Sweden
- 2022 - Alecta pension insurance, mutual
- 2021 - Fjärde AP-fonden (AP4)
- 2020 - Fjärde AP-fonden (AP4)
- 2019 - Swedish Pensions Agency
Interviews
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Sweden’s Alecta seems immune from criticism but beware the watchdog
Right now, Alecta cuts a strange figure – one of Europe’s biggest pensions institutions wounded after gaping investment losses, and sustaining still worse injuries from the monopolistic hubris it leaves in its wake.
AMF finds banks increasingly luring its pension clients with mortgage discounts
Swedish blue-collar pension fund says occupational pension seen more and more as ‘commodity to be exchanged for temporary discounts’
IPE Nordic Briefing: Iceland preps review of national pensions sytem
Plus: Iceland schemes reject banking rules; Sweden’s watchdog warns of risks for consumers on pension transfers
Swedish FSA warns of risks for consumers as Q1 pension transfers hit €2bn
Watchdog calls occupational pension majors to its HQ to talk about putting consumer needs first when moving pensions
Next year’s Swedish FTN plan includes SEK145bn active IT equities mandates
Fund Selection Agency outlines 2025 procurement plan for four actively managed premium pension fund categories and one index-based
Sweden’s FTN launches biggest tender yet, €17bn global active equities
Fund Selection Agency sets 16 December deadline, confirms bulk of preliminary specifications
Sweden’s AP buffer funds criticise government proposals to merge them
AP1, AP2 argue that it’s impossible to say whether restructuring should happen, since government proposals are ‘incomplete’ or have ‘decisive flaws’
Swedish pensions agency awards €5.8bn of index equity mandates
Handelsbanken, Mercer and Skandia among winners in agency’s second tender award announcement
Swedish pensioner groups warn against political meddling with AP fund structure
AP7 disagrees with proposal to slim AP fund boards down to seven members
Nordic FSA chiefs urge EU regulators to simplify financial rulebook
Simpler rules should be enforced by ‘risk-based supervision with strong discretionary tools’, Nordic watchdogs tell EIOPA, ESMA, EBA heads
Alecta says low incomes more common for young than pensioners
Sweden’s biggest pension fund presents study challenging commonly-held idea that pensioners are poorer than young people
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