Young Swedish fund investors urged to use industry App

The Swedish Investment Fund Association (Fondbolagens förening) is urging young long-term savers to use its App for mobile devices, to help them select funds in the country’s PPM system.

PPM is the platform for distribution of funds into which a portion of annual pension savings may be invested. The operator of the platform, the Swedish Pensions Agency (Pensionsmyndigheten) has recently been sending out its so-called ‘Orange Envelope’, detailing recipients’ portfolio performances over the past year, as well as latest information about the savings system. The Agency said the envelope is sent to 194 countries – including to people who may have worked in Sweden and accrued retirement savings.

The platform lists over 800 funds available via the Agency’s website. However, the Investment Fund Association said that few young savers have bothered to look over their choices since they first started using PPM, which is why it is urging use of its ‘Fondkollen’ App.

By using this, the Association said it is possible for investors to get guidance on the two-stage fund selection process and check the historical performance of funds – while simultaneously being logged in to the platform to finalise selection.

The Association urges any long-term investor to filter funds for performance over five years when doing this type of quantitative analysis. It also noted that while equity funds remain popular among long-term savers, they should be aware that 2011 was a challenging year for this type of fund.

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