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Pinebridge quits Fondtorget and slams pension agency for penalty

Pinebridge Investments criticizes the Swedish Pensions Agency and deems it unprofitable to continue making its funds available on the platform Fondtorget. The US manager calls rules on providing information about changes "without any delay" more demanding than those of banks and other counterparties, recent documents show.

Photo: PR / Pensionsmyndigheten

Pinebridge Investments no longer wants to make its funds available on the Swedish Pensions Agency’s (SPA) fund platform Fondtorget. In February, the US-based asset manager notified the agency in writing that it wanted to terminate its agreement and deregister the three available funds.

The decision followed a few meetings with SPA representatives but can be traced back to the new rules implemented for the fund platform back in 2017. Due to the financial crime-related scandals of recent years, a new 29-point regulation was integrated.

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