Application for review of the procurement of global equity funds

Under the rules that apply when a review is requested, this means that the signing of agreements with the procured funds is paused until the Administrative Court has examined the case and made its decision. The entities that submitted the winning tenders in the procurement are thus affected in that their entry onto the fund platform is postponed.

For pension savers, this means that access to the newly procured funds, with lower fees and high quality requirements, may be delayed compared with the original timetable.

FTN’s mandate is to procure funds within the premium pension system in accordance with the legislation adopted by the Swedish Parliament. All tenders in the current procurement of actively managed global funds have been evaluated according to the same model and criteria. FTN consider that the procurement has been carried out in a correct and legally secure manner, but welcomes that the application of the regulatory framework may now be reviewed by a court.

“It is important for legal certainty that affected tenderers can request a review of public sector decisions. We will submit the documents requested by the Administrative Court in order to enable a correct and swift review. Our assessment is that the procurement has been conducted in accordance with the applicable legislation and regulations,” says Mats Dillén, Chair of FTN.

Once the Administrative Court has made its decision, FTN will provide further information about what this means for the continued timetable for introducing the procured funds.