Seven local municipalities in Sweden are to join later this month in a tender for asset management services for pension funds. The seven, which together have assets of Skr600m($75m) are Burlov, Kavlinge, Lomma, Markaryd, Svedala, Vellinge and Orkelljuna. Five of the municipalities have pension funds under management, but their contracts expire in 1998.

The decision is to be made in late spring and the contract signed by mid-June. Lars-Ake Stahl of Lomma kommun is acting as co-ordinator of the joint-venture.