Investment Fund Market Guide - Sweden
Key features (Register market)
Settlement free of payment
Settlement against payment
Refer to CBL’s Eligible currencies and the fund currency specified in fund prospectus.
Restrictions on customer
Restrictions on settlement
Market type / link type (Settlement link)
Register market and CSD link
|Eligible fund types / legal forms in CBL|
Register market: Open-ended investment funds and Closed-ended Investment funds
CSD Linka: ETFs
a. Please refer to the Market Link Guide - Sweden for more information about funds available via the CSD link.
Eligible fund types in CBL
The following Investment fund types are available in Sweden
Open-ended investment funds
- Open-ended Swedish mutual funds qualifying as UCITS funds under Directive 2014/91/EU, governed by the Swedish UCITS Act (2004:46, as amended) (the “UCITS Act”);
- Open-ended non-UCITS mutual funds governed by chapter 12 of the Swedish Act on Alternative Investment Fund Managers (2013:561, as amended) (the “AIFM Act”) also called Special Funds.
Closed-ended investment funds
- Closed-ended mutual funds implemented as Special Funds and governed by chapter 12 of the Swedish AIFM Act;
- Closed-ended investment funds structured as limited partnership companies, which may fall under the definition of Alternative Investment Fund (AIF) within the meaning of AIFM Act. Limited partnership companies are formed on the basis of an agreement between the partners and do not issue shares or other securities, which represent holding in the company.
Swedish law does not restrict the investment in Swedish limited partnership companies by CBL on behalf of its customers (restrictions may however be foreseen in the limited partnership agreement and therefore the eligibility should be assessed on a case by case basis) provided that none of CBL customers is a pension trust incorporated by an employer in accordance with Section 9 of the Swedish Act on Securing Pension Undertakings or an employee trust incorporated by an employer in accordance with Section 27 of the aforementioned act). The restriction will not apply solely due to a pension trust being a customer of a CBL customer.
Please refer to the Market Link Guide - Sweden for more information about funds available via the CSD link.
Exchange Traded Funds (ETFs) - Listed ETFs have the same settlement process as listed equities.