Active vs passive funds in Swedish government Ucits V inquiry

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Sweden’s minister responsible for financial markets has announced that the next stage in the ongoing government inquiry into Ucits V will address the question of how to enable individual investors to better distinguish between active and passive funds.

Per Bolund has given the inquiry until 31 December this year to report back on outstanding questions following on from the first stage of its work, which has been reported as SOU 2015: 62.

The government is also demanding that the inquiry provide suggestions for “improving the delivery of information and comparisons on how fund mangers integrate sustainability aspects such as environment and climate questions, human rights, working conditions and the fight against corruption into their management.”

The ongoing inquiry has just delivered its first proposals for changes required to Swedish law in order to incorporate the proposals that Ucits V demands. For example, in the area of fund company remuneration policies, it will require structures that encourage responsible management of risk.

The inquiry’s latest document includes proposals for paragraphs to be written into existing law covering fund managers, banking and finance, the securities market, and alternative investment funds.

Ongoing work to meet the 31 December deadline will be supported by a panel of industry and legal experts, as well as a number of deputy directors from the ministry of Finance, which is the responsible department for proposing legislative changes in this area.  Helene Wall, general counsel at the Swedish Investment Fund Association, is part of the group, as well as Johan Florén from AP7.



Jonathan Boyd
Editorial Director of Open Door Media Publishing Ltd, and Editor of InvestmentEurope. Jonathan has over two decades of media experience in Japan, Australia, Canada and the UK. Over the past 17 years he has been based in London writing about funds and investments. From editing the newsletter of the Swedish Chamber of Commerce in Japan in the 1990s he now focuses on Nordic markets for InvestmentEurope. Jonathan was awarded Editor of the Year at the Professional Publishers Association (PPA) Independent Publisher Awards 2017. Shortlisted for the same in 2016, he was also shortlisted in 2017 and 2015 for the broader PPA Awards category Editor of the Year (Business Media).

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