The agency procuring privately-managed investment funds for Sweden’s premium pension system has unveiled preliminary specifications for its next tender, which will be for global active technology equity funds.
The Swedish Fund Selection Agency (Fondtorgsnämnden, FTN) – which is gradually repopulating the first-pillar system’s funds platform with a smaller number of quality-assured funds – announced today that the next procurement process will be launched in late September or early October 2025, at the earliest.
There are currently approximately SEK124bn (€11.4bn) of assets under management (AUM) between the 10 actively-managed global technology funds in the IT and communication fund category on the premium pension funds platform, the agency said, adding that the procurement – its 11th since it started operations in 2022 – affected around 500,000 premium pension savers.
The procurement is one of the FTN’s largest in AUM terms, after the now-closed procurement launched last November concerning some SEK200bn of premium pension assets invested in actively-managed global equity funds.
According to the preliminary specifications for the technology funds procurement, which are being published now to allow for questions and comments, the FTN’s category benchmark is the MSCI World IT 10/40.
Funds are to have the investment objective of outperformance relative to their benchmark, which the FTN says must be rules-based, transparent, constituting an appropriate reference for the market it pertains to, and be publicly disclosed in an appropriate manner.
The details published also stipulate the minimum activity rate that a fund’s management must have relative to its benchmark.
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Rachel is IPE's Nordic correspondent.
She has long been a freelance writer, and over the years, has written for The Telegraph, The Independent, The Observer, AMWatch and elsewhere.
In 2001, Rachel's personal finance book Kickstart Your Money was published by John Wiley & Sons.View full Profile
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