Lannebo’s Espelund Comments Pension Fund Regulation

Stockholm (NordSIP) – Lannebo Fonder’s founder and chairman Göran Espelund had an opinion or two on the theme of whether to further develop or shut down the Swedish Premiepensionsmyndigheten (premium pension authority) (PPM) at an investment seminar in Almedalen Monday.

“The premium pension system as an idea is fantastic, which enables us all to influence our pensions. And we have access to an enormous selection,” Espelund told the seminar.

Lannebo Fonder is one of Sweden’s largest independent fund management companies with a strong focus on active management. The company was founded in 2000 and bases its investment strategy on long-term investment, risk awareness and independence. Lannebo Fonder manages approximately SEK 70 billion across 16 funds, and is headquartered in Stockholm, having recently also opened a branch in Copenhagen.

Almedalen Panelist Solveig Zander from Pensionsgruppen pointed out that the rules have become too easy-going and need to be tightened up and become clearer. Pensionsgruppen recently submitted a developed regulatory framework for strengthening consumer protection within the PPM. She also lamented “daily headlines about how miserable the system is” and emphasised the importance of popular education.

Espelund clarified his remarks that the EU Fund Directive unfortunately does not fully work at the European level, expressing strong sympathy for the Pensionmyndigheten’s (Pension Authority) proposal for a new regulatory framework.

“While I welcome the (EU) regulatory framework, I think it’s a pity that it works against really good and quality funds such as Didner and Gerges Sverige-fond, the capital of which predominantly comes from PPM savers.”