Monthly update on the judicial review of the procurement of global equity funds – October 2026

Indecap lodged its appeal against the Administrative Court’s judgment on 23 October. Indecap requests that the Administrative Court of Appeal grant leave to appeal and grant the application for review. Indecap has also requested that the Administrative Court of Appeal issue an interim decision that the Swedish Fund Selection Agency (FTN) may not enter into any agreement in the procurement until otherwise decided.

On 23 October, the Administrative Court of Appeal decided that FTN may not enter into any agreement in the procurement until otherwise decided. As a result of the decision, FTN may not, for the time being, enter into any fund agreements in the procurement.

The Administrative Court of Appeal is now considering whether to grant leave to appeal. If leave to appeal is not granted, the Administrative Court’s judgment will stand. If leave to appeal is granted, the Administrative Court of Appeal will examine the merits of the appeal. The Swedish Fund Selection Agency has no information on how long the Administrative Court of Appeal will take to decide on leave to appeal, and no timetable has been set. The case has been assigned case no. 7760-26 at the Administrative Court of Appeal in Stockholm.

The procurement of actively managed global equity funds is the Swedish Fund Selection Agency’s largest to date and covers a combined premium pension capital of approximately SEK 200 billion. The Swedish Fund Selection Agency will continue to provide updates as the case develops.

For enquiries, please contact:
Viktor Ström, Head of Communications, FTN
+46 73 321 64 46, viktor.strom@ftn.se