The Swedish Fund Selection Agency (FTN, Fondtorgsnämnden) formally launched its fourth and fifth procurements yesterday afternoon, seeking asset managers for appointment as the approved providers in the premium pension system of Nordic large-cap equity funds and Nordic small-cap equity funds.
There are currently some SEK18bn (€1.5bn) of premium pension savings invested in the two categories via the existing funds marketplace, belonging to around 140,000 savers, which is in the process of being replaced by the new procured platform under creation by the FTN.
Erik Fransson, executive director of the FTN, said: “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,” he said.
The deadline for submission of tenders is 10 June, the FTN said.
The twin procurement is the third time the agency – which was set up in 2022 – has launched tenders. The first was at the end of last June, for a single procurement for actively-managed European equity funds, and the second launch, on 29 February 2024, was offering mandates for both global and European index funds.
The FTN said it intends to procure a maximum of four funds for each of the two Nordic equity categories. This compares with the 11 large and mid-cap Nordic equity funds on the platform today, and the five funds that are on offer categorised as Nordic small-cap.
The agency provided some details of the selection conditions it would apply to the two Nordic equity tenders just before Easter.
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