Carneo CEO foresees massive outflows and free-fall market as new pension reform unfolds

A massive sell out from investment funds, damaging both fund managers, domestic small cap companies and pension savers' returns, will very likely be the result of last week’s amended Swedish Premium Pension System (PPM) reform, Christoffer Folkebo, CEO of multi-boutique manager Carneo, tells AMWatch.

Christoffer Folkebo, CEO of Carneo. | Photo: PR/Carneo

Last week, a coalition of Swedish politicians reached a long-awaited agreement that will reduce the number of funds in Sweden's Premium Pension System (PPM) from 485 at present to an estimated 150-200.

Previously, there have been talks of a reduction to only 10-15 funds, and the most current proposal would direct about three quarters of the savings into the national AP7 fund's balanced Såfa product.

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