A stable, well-functioning financial market for allA stable, well-functioning financial market for allMonitor what your funds are costing you
Today, almost all households invest in funds, either directly through private savings or indirectly through our pensions. However, close to one third of fund savers are unaware of how high the fund fee is and many risk paying too much for their savings. We are, therefore, now publishing the most common fees for some popular fund categories to help consumers monitor what certain funds cost.
Fees have an impact on your savings. For example, the difference in fees for saving SEK 2,000 a month in a fund that costs 1.5 per cent compared to one that costs 0.5 per cent can grow to several hundreds of thousands of kronor during the course of 30 years. And yet, we know that there are a lot of people who are unaware of what their funds are costing them. These people risk paying too much for their savings.
To help more people understand how much they are actually paying for their savings, we undertake to publish the median fee of certain popular fund categories on a quarterly basis. This figure will show the most common fee to fund savers. We will also illustrate a few simple examples of how substantial the difference can be in actual money depending on a person's choices. By identifying the most common fee for certain fund types, we strive to provide consumers with a simple means of comparing and seeing whether they are paying too much in fees.
"Most of us today know what a packet of butter or a litre of milk ought to cost. But when it comes to savings, which actually has a high fee, we are not aware, despite the fact that the options can differ in hundreds of thousands of kronor. We hope this will help fund savers better understand what we are actually paying for our savings in actual money," says Moa Langemark, advisor at Consumer Supervision.
