Swedish Pensions Agency receives a remark

FI has investigated whether the Swedish Pensions Agency has followed the rules in conjunction with investments in Heimstaden Bostad. The investigation refers to the period 2021–2023 and shows that the Swedish Pensions Agency has been deficient in its risk control. As a result, the Swedish Pensions Agency has not fulfilled the requirements set forth by law to be allowed to make the investments.

"The Swedish Pensions Agency has taken measures to learn about the risk in the investments in Heimstaden Bostad, but the measures have been insufficient. The Swedish Pensions Agency has also not ensured that it had sufficient possibilities for managing this risk. This means that the authority has not met the requirements on risk control that are set forth by law," says Erik Blommé, Chief Legal Counsel at FI.

The risk that the investigation targeted refers to the risk that the invested funds will be lost. The investigation shows that the Swedish Pensions Agency has taken measures to learn about the circumstances that affect this risk. This refers in part to differences in incentives and influence between the owners, the agreed price per share, and the obligation to reinvest funds in the company. However, the Swedish Pensions Agency's measures have been insufficient. The agency has also not ensured that it can manage the risk inherent in the investments.

The Swedish Pensions Agency is therefore receiving a remark.

The investigations into whether Alecta, Folksam Liv, Folksam Sak and KPA Pension have followed applicable regulations in conjunction with their investments in Heimstaden Bostad are ongoing.