SWEDEN - Sweden’s Premium Pension Authority, PPM, says it intends to purchase fund rating services.
“The Premium Pension Authority (PPM) intends to purchase fund rating services/rating license,” the tender states. The agreement will apply to the end of 2009, with 12-month extensions possible.
The deadline for receipt of tenders or requests to participate is July 7.
Earlier this month PPM said it was seeking a consultant for, among other things, performance evaluation of its external asset managers. That procurement was divided between five service areas.
These include: an ALM and interactive allocation decision tool, support during procurement and implementation of external asset managers, socially responsible investments, debt management and performance evaluation of external asset managers.
Yesterday IPE reported that PPM was launching an internal investigation following some 70 complaints of delayed trading during May’s market turbulence.
According to PPM legal expert Johan Schütt, “We are now investigating each separate case ourselves, and after that the Office of the Chancellor of Justice will decide whether PPM will pay compensation.”