5% own 79% of equity wealth in Sweden
Calculations of data published by Statistics Sweden suggest that 5% of the population own 79% of equity wealth – although not all investments within mutual funds or insurance products are counted towards this split.
Daily financial newspaper Dagens Industri highlighted the concentration of wealth in its breakdown of averages noted by the statistical authority; SCB noted that household savings grew by SEK32bn to some SEK357bn (€38.3bn) through 2015, leading to a savings ratio including workplace related pension savings, of some 8%. Savings defined as ‘financial savings’ increased SEK22bn to some SEK298bn (€32bn)
Households’ equity wealth derived from companies listed on Swedish markets increased by SEK110bn to some SEK724bn (€77.7bn), DI said. Individual with direct equity holdings saw the average portfolio up SEK79,000 to SEK492,000 over the year (€58,000).
However, the average figure does not tell the full story, the paper added, because a relatively small number of individuals own a large share of the stock market value. This is illustrated by the figures for median portfolios, which saw a far smaller increase of SEK1,000 to SEK28,000 by the end of 2015 – excluding data on mutual funds and insurance based savings.