Swedish banks collected 21.6 billion SEK in fees despite massive fund losses

Swedish banks and fund managers collected approximately 21.6 billion SEK in fees over a five-year period, despite a group of 39 funds losing a combined 49.1 billion SEK in value. This occurred during a timeframe when the Stockholm Stock Exchange index rose by 42.8 percent.

Specific institutions reported significant discrepancies between fees collected and fund performance. Swedbank Robur collected roughly 4.36 billion SEK in fees from four funds that saw a combined loss of over 10.4 billion SEK. Handelsbanken collected 2.47 billion SEK in management fees from two funds that lost 5.4 billion SEK, while Länsförsäkringar took 2.13 billion SEK in fees for two funds that lost over 10.3 billion SEK. Other notable collectors included Carnegie Fonder and SEB.

The data highlights a system where fund managers receive annual compensation regardless of investment outcomes, leading to situations where fees are collected even as client wealth diminishes.