The Swedish Fund Selection Agency (FTN) has started the evaluation of tenders in the procurement of actively managed European equity funds.

FTN made notice for the procurement of actively managed European equity funds, with a primary focus on investments in large and/or mid cap to the premium pension fund platform, in late June 2023.

The deadline for submissions passed on 5 October following a deadline extension, with the tender opening now finalised, constituting the start of the assessment and evaluation of the tenders received.

The agency thanked tenderers for submitting their tenders and it will now start the evaluation, review, and assessment of all the submitted tenders.

FTN’s evaluation of the tenders is forecast to be completed towards the end of the first quarter of 2024, when an award decision will be announced.

“Absolute secrecy applies to all information related to the tenders,” FTN stated.

“This means that no information regarding the tenders is disclosed until after the award decision has been announced, or when the procurement, where applicable, has been ended in another way.”

This is the first procurement for the premium pension fund platform and is the start of a series of procurements that will be made to offer high quality funds on the platform, which aim to create a more secure premium pension system with higher pensions for participants.

Its procurement covers actively managed European equity funds with a primary focus on large and/or mid cap, for which up to six funds will be procured.

Approximately SEK 11bn of savers’ premium pension funds were invested in this category, as at 31 May 2023.

European small cap equity funds will be procured later in a separate procurement.

FTN is aiming to procure, review and quality-ensure the funds on the premium pension fund platform.

The procurement is carried out in accordance with the Act Procurement of Funds to the Premium Pension Fund Platform, with a process based on industry practice.

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