Swedish pension savers who were invested in several Russian funds are to receive a share of SEK 247m in repayment after the sales of the funds, the Swedish Pensions Agency has said.

Approximately 5,700 savers and pensioners will receive a total of just over SEK 131m from the Russian fund Baring Eastern Europe. A further 8,500 savers and pensioners are to receive approximately SEK 108m from East Capital Östeuropafond. In addition, around 6,800 savers and pensioners together will receive just over SEK 8m from the Nordea Russia Fund.

“It is gratifying to be able to repay values from the deregistered funds to savers and pensioners. The Swedish Pensions Agency continues to monitor deregistered Eastern European funds and Russian funds if further repayment is made possible,” Swedish Pensions Agency head of fund trading, Rasmus Bjälkeson, said.

Affected savers and pensioners will see their refund as a correction in ‘My pages’ at pensionsmyndigheten.se.

The Swedish Pensions Agency explained that the repayments have been possible due to the fact that the fund companies have divided the Eastern European funds into a Russian and a non-Russian part. In this way, the non-Russian assets have been able to be sold. For Nordea Russia Fund, Nordea has succeeded in selling part of the fund.

In the wake of Russia's full-scale invasion of Ukraine, four Russian funds and three Eastern European funds were deregistered from the premium pension fund market. Shareholders in Russian funds were compensated with 0.5 per cent of the last share price when the Swedish Pensions Agency took over the funds.

Similarly, shareholders in Eastern European funds were compensated with 25 per cent of the latest share price. In addition to these compensations, in mid-June 2023, the Swedish Pensions Agency repaid approximately SEK 228m to 34,000 savers and pensioners in the Carnegie Russia Fund and approximately SEK 5m to approximately 6,800 savers and pensioners in the Nordea Russia Fund.

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