The Swedish Fund Selection Agency (FTN) has revealed the results of its European equities tender, awarding six fund managers contracts for the premium pension fund platform.

The fund managers are: Abrdn Investments Luxembourg S.A. (European Sustainable Equity Fund), AMF Fonder AB (AMF Aktiefond Europa), JPMorgan Asset Management (JPMorgan Funds Europe Sustainable Equity Fund), Nordea Investment Funds S.A. (Nordea 1 - European Stars Equity Fund (BP-EUR)), SEB Investment Management AB (SEB Europe Equity Fund), Swedbank Robur Fonder AB
(Swedbank Robur Europafond A).

Approximately SEK 11bn of the premium pension savers' assets will be allocated to these funds. For pension savers, FTN said the procurement means that all funds in the category have undergone extensive controls and are of high quality. At the same time, the average fee for the funds in the category has been reduced from 0.48 per cent to 0.21 per cent.

"We are pleased with the outcome. It gives pension savers access to high-quality funds at a lower cost,” FTN chairman, Mats Sjöstrand, said.

The funds procured must, by law, be suitable, controllable, sustainable, cost-efficient and of high quality. In addition, the range of funds on the fund platform must provide freedom of choice for pension savers.

"This marks an important step towards our goal of providing savers high-quality funds that provide a safer and higher pension," FTN executive director, Erik Fransson, said.

Around 130,000 pension savers have holdings in funds affected by the procurement. The funds in the category that have not been allocated will be phased out from the fund platform after the decision has gained legal effect.

Savers with funds that are removed from the fund platform are allowed to make a new choice. However, savers do not need to do anything but are automatically moved to an equivalent, procured fund if no choice is made.

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