29 billion, or four per cent. So much more capital had passive index funds with lower management fees given than what the ucits around 800 funds have managed to raise the pension pot in the system where the depositors themselves may select the manager, according to the national audit office which reviewed the more than 100 managers work and the accounts in the premium pension system.
A major problem is that the savers in the premium pension system is so passive. Most never touch the money, thus, even when fund managers raise their fees. Many ucits also stops their funds in other funds, so-called fund-of-funds. The type of management has increased greatly in recent years. According to the national audit office’s study provides the type of funds higher fees, but no better yield and about the same risk for the savers.
the Fund-of-funds are, on average, not a good deal, ” says Daniel Hallberg, project manager for the Swedish national audit office’s review
aiming to push the förvaltaravgifterna, has loopholes that can encourage fund managers to creative solutions in order to increase fees, according to the study.
So, even if the premium pension system provided a great value to the entire sparkollektivet, cheap index funds taken together, thus giving better results than snittfonden on the fund marketplace, according to the review of the period 2010-2017.
let premiepensionspengarna be in the state soffliggarfond, the Seventh AP fund’s Såfafond, which has seven per cent more than the private ucits results, overall. Including the so-called leverage effect, with increased risk, and which have been extra favorable in times of rising stock market, has Såfafonden given a 37 per cent better value.
”the Savers in the fund marketplace is therefore a risk to have to pay a high fee in relation to the value they receive,” writes the national audit office in the report and calls for better supervision and sharper tools for savers best.
“What is needed is that the funds are continuously assessed and that the costs reported for the savers in a clear way,” says Daniel Hallberg.
the national audit office would, therefore, that the government is taking to address the issue and raises the requirements on the fund managers on the Pensionsmyndighetens fondtorg to disclose all their costs.