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Danske Capital Sverige has overhauled its approach to Sweden's Premium Pension system (PPM). The company has launched three fund-of-funds products while withdrawing its European SRI screened equity product, First Nordic SRI Europe.
Mikael Nordberg, managing director, at Danske Capital Sverige, told nrpn that the new products were the first fund of funds to be offered for Swedish pension savers via the PPM.
“The three new funds offer new and smooth solutions to pension investments. We take care of the asset allocation on behalf of the savers and provide three risk levels: high, medium and moderate,” he said.
According to Nordberg, Danske Capital Sverige decided to withdraw the First Nordic SRI European Equity fund because of general lack of interest.
“There was simply not enough enthusiasm among Swedish pension savers towards a European SRI screened equity fund. It attracted only some 40 investors and was also too small to be kept going – only SKr20m (E2.1m) in total,” he said.
Jörgen Jonsson, senior consultant at Wassum's Stockholm branch, believes that fund of funds products might prove successful among Swedish savers.
“At the moment it is difficult for individuals to choose from the multiple number of funds available at the PPM platform. The three new funds of Danske Capital offer a suitable investment option for many, as their fund range is regularly overviewed and because they make choosing much easier,” he explained. RC
