The Administrative Court upholds the Swedish Fund Selection Agency’s position on all matters examined and rejects Indecap’s application for review in its entirety.

“The judgment is an important step towards giving savers access to the procured funds, which offer lower fees and high quality,” says Erik Fransson, Executive Director of the Swedish Fund Selection Agency.

The judgment states that the Administrative Court considers the procurement of fund units for the premium pension fund platform to be covered by the free movement of capital and therefore to fall outside the scope of the Concessions Directive.
“This is an important conclusion in line with the assessment of the legislator and the Swedish Fund Selection Agency,” says Erik Fransson, Executive Director at the Swedish Fund Selection Agency.

The Administrative Court also finds that there are no grounds for requesting a preliminary ruling from the Court of Justice of the European Union, since the question of whether the acquisition of fund units is covered by the free movement of capital or services has already been addressed in the case law of the Court of Justice of the European Union.

In the review proceedings, Indecap also claimed that the Swedish Fund Selection Agency had breached LUP in several respects in the procurement in question. Among other things, Indecap objected to the evaluation model, the possibility of submitting certain information ahead of the interview stage, the assessment of mandatory requirements, the scoring of Indecap’s tender, and the Swedish Fund Selection Agency’s obligations regarding disclosure and documentation.

The Administrative Court finds no grounds to intervene in the procurement on any of the grounds put forward by Indecap. Among other things, the Court finds that the Swedish Fund Selection Agency acted correctly when requesting information ahead of the interview stage, that the Agency had grounds for its assessments of the mandatory requirements concerning investment objectives, investment focus, share class and signature, that Indecap had not shown that the scoring of the company’s own tender was incorrect, and that the Swedish Fund Selection Agency fulfilled its obligations regarding disclosure and documentation.

The Administrative Court also notes that Indecap’s tender was ranked 53rd in the final evaluation and that several of Indecap’s objections were raised only in connection with the review proceedings. Overall, the Court finds that Indecap has not shown that the company suffered, or risked suffering, harm in the manner required for intervention under LUP.

“The Swedish Fund Selection Agency welcomes the Administrative Court’s judgment. It confirms that the procurement in question was carried out correctly in accordance with LUP,” says Erik Fransson.

For further information, please contact:
Viktor Ström, Head of Communications, Fondtorgsnämnden
+46 73 321 64 46 or viktor.strom@ftn.se