The Swedish Fund Selection Agency (Fondtorgsnämnden, FTN) is extending the deadline for bids in its second tender process by a week, to take account of late changes to the documentation amid queries from potential bidders.

In an announcement yesterday, the FTN said: “Due to certain clarifications and revised mandatory requirements in the procurement documentation, the tender period is extended as follows:”

The new last date for submission of tenders has been shifted to 25 April from the original 18 April deadline, with the new last date to submit questions being ten days before that on 15 April 2024, it said, while the new final date for publishing answers to questions is now 19 April.

The current procurement process being conducted by the FTN is for European equity funds index and global equity funds index, and together these two tenders constitute the agency’s second process since it was formed in 2022.

The deadline delay suggests continued teething problems for the FTN as it refines its dual-language documentation and responds to queries. However, the rolling question-and-answer window on the agency’s page on the e-avrop tendering website currently shows far fewer questions have come in from fund managers by this point than had been posed in the first set of tenders last summer.

The deadline for that first procurement – for large/mid-cap actively-managed European equity funds — had to be extended twice.

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