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ARTICLE · 30 JANUARY 2004

Mutual Funds Legislative Update

In September 2003 the government presented a bill proposing a new legislation (the "Invest-ment Funds Act") regarding mutual funds and other undertakings for collective investments.

SwedenFinance and Banking
Peter Kullgren
Peter Kullgren

General

In September 2003 the government presented a bill proposing a new legislation (the "Investment Funds Act") regarding mutual funds and other undertakings for collective investments. The new legislation cover both mutual funds that fulfil the UCITS directive requirements, and special funds that in one way or another fail to comply with these requirements and therefore may not be marketed or freely traded outside Sweden. Special funds were previously referred to as national funds. Mutual funds and special funds are now collectively named investment funds.

The new Investment Funds Act is based on the following premises:

  • Consumer/Investor protection.
  • Awareness of different risks (financial, administrative and conflicts).

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