The cover is perhaps Sweden's best-kept pension secret.
One reason is that Kåpan does not spend a penny on marketing.
The occupational pension association is only for all those who work or have worked in the state and it is the default option for their occupational pension.
As there are no owners, all profits go back to the members who are the pension savers.
The cover's annual fee is about 0.1 percent.
The average price for so-called mixed funds in Sweden in 2019 was 1.31 percent.
This means that the price for Kåpan's fund is less than one tenth of what a similar fund costs in the open fund market.
Extensive research has shown that the fund fee is the single most important factor that affects how things go for a fund in the long term.
- We have succeeded in keeping resources down in general.
We have some staff, we have a product that we provide.
We are a closed association, we are not out competing as other players are.
This means that we no longer have the time and energy for marketing, says Marie Giertz.
A fund
Marie Giertz has no bonus.
Nor the rest of Kåpan's management.
If Kåpan's share managers do a good job, they can receive up to two months' salary extra in variable remuneration.
The difference is large compared to, for example, the major banks.
In Nordea, for example, the bonus ceiling is 24 monthly salaries and last year Nordea's vice president received approximately 2.5 million in bonuses, the CEO received approximately 6.5 million.
- We have always strived for low costs.
We try to ensure that the fee we charge should correspond to the administrative cost we have to be able to run this business.
We want to keep it to a minimum, says Marie Giertz.
The cover has only one fund.
It manages just over SEK 100 billion, which makes the fund one of Sweden's largest.
In addition to small holdings in, among other things, forests and properties, the fund is quite similar to a so-called mixed fund with shares and fixed-income securities.
Although significantly cheaper.