The Swedish Pensions Agency has banned Russian funds from its premium pension system's fund marketplace, following Russia’s invasion of Ukraine.

Swedish pension savers will no longer be able to purchase Russian funds on the marketplace. However, the Swedish Pensions Agency's decision does not prevent the sale of Russian funds. As long as the fund companies still offer trading, the funds can be sold.

The ban was introduced while the Swedish Pensions Agency investigates the funds' continued suitability on the fund market. The inquiry rests on the fund agreement's writings on suitability and looks, among other things, at counterparty risks, operational risks and the funds' return and risk profile.

Commenting, Swedish Pensions Agency head of the fund market department, Erik Fransson, said: “We have stopped the possibility of buying funds that most strongly focus on investments in Russia. This is done to protect pension savers.”

The funds include: Swedbank Robur Rysslandsfond A, Nordea Russia Fund, Carnegie Russia Fund A and East Capital Russia.

Last week, Denmark's AkedemikerPension announced that it had put Russia in quarantine, meaning no new investments can be made by the fund in Russian government bonds or state-backed companies.

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