The Swedish Fund Selection Agency publishes draft examples of parts of the procurement material and welcomes comments
The Swedish Fund Selection Agency publishes a draft example of parts of the procurement material that will be used in the upcoming procurements of funds for the premium pension fund platform. The material provides an overview of the design and scope of the procurement material. Publishing the material is part of the Agency’s market dialogue, which is intended to give the market the opportunity to prepare for the upcoming procurements of funds and to comment and give feedback on the procurement material.
In a procurement, the tenders submitted will be evaluated based on the answers to the questions asked in the procurement material. A limited number of tenderers will be chosen for due diligence meetings. To ensure that the Swedish Fund Selection Agency is able to make an assessment based on the requirements in the procurement, it is of utmost importance that the responses in the tender describe the fund manager and the fund well. The procurement is governed by the Act (2022:760) on procurement of funds for the premium pension fund platform. The aim is to provide funds of high quality that provide a safer and higher pension for the pension savers.
The procurement material published today consists of:
- Procurement Guidelines: This document describes how the procurement will be carried out, and describes among else the Swedish Fund Selection Agency, the background to the procurement, definitions of terms relevant to the procurement, the various stages of the procurement process, the time plan, how the verification of the set requirements is made as well as how the evaluation is made, in both cases based on the exclusion grounds, mandatory requirements and award criteria of the procurement.
- Fund Specification: this document describes and specifies, among else, the fund category to be procured.
- Request for proposal (RFP): The questions in the RFP aim to provide a description of, among else, the fund's, the fund manager’s operations, organization, strategy, investment philosophy, processes, team and resources, sustainability, performance, administration, asset management fees and other costs.
This draft of the procurement material has been prepared for the procurement of equity funds, which means that the procurement documents for other categories may differ slightly from this example. The material published today is available in English. Versions in Swedish will be published during next week.
In order for the Swedish Fund Selection Agency to be able to set better and more suitable terms and conditions, and prepare the market for the coming procurements, it is important that the fund managers thoroughly goes through the procurement material before the notice is made for the first procurement. The Swedish Fund Selection Agency therefore recommends all fund managers intending to participate in a procurement to carefully read the procurement material, whether their participation is planned for the first procurement or for a fund category at a later stage.
The fund agreement is not included in the draft of the procurement material that has been published now.
The Swedish Fund Selection Agency welcomes written comments and questions on the procurement material. These should be sent to procurement@ftn.se by 2023-03-10.
Please note that all comments received will be archived in accordance with the Swedish principle of public access to documents, and could therefore be subject to disclosure upon request. Information that is deemed confidential according to the provisions of the Swedish Public Access to Information and Secrecy Act (2009:400) will not be disclosed.
The published draft examples of parts of the procurement material is available here.