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Swedish funds are being accused of playing a dirty game by investing in their own funds, and thus charging its investors double management fees.

Business daily Dagens Industri on Monday criticized fund company Case Assets -- with high-profile owners such as H&M; chairman Stefan Persson and former professional tennis player Stefan Edberg -- for double charging and withholding information from its clients.

One of the fund company's special funds has been investing savers' money in the company's other funds, giving the company additional revenue, without savers know about it.

"We are considering providing information", Case Assets CEO Måns Palmstierna wrote in an e-mail to the newspaper.

The company -- with assets under management of 446 million kronor ($65 million) -- consequently does not commit an offense, the business daily pointed out. But it goes against industry practice.

Last year East Capital was also criticized for double-charging. While the East Capital Explorer's stock has underperformed on the Stockholm exchange "the brains behind the investment company has realized over 300 million kronor in management fees", Dagens Industri wrote.

Also so called fund of funds (an investment strategy of holding a portfolio of other investment funds rather than investing directly in shares, bonds or other securities) have been criticized for its double management fees. When a fund of funds invests in other mutual funds management fees often get charges twice.