Asset allocation funds most popular in Finland in 2015

Asset allocation funds saw the highest net subscriptions by mutual fund class through 2015 in the Finnish funds market, according to data published by Investment Research Finland.

The sector attracted net subscriptions of €5.2bn through the year, against €1.7bn for long term bond funds, which were the most successful sector the previous year.

Total net subscriptions to mutual funds domiciled in Finland were some €8.8bn through the year, up more than €300m compared to the full year figures for 2014.

Total asssets of locally domiciled funds increased by some €3.2bn because of market movement, with the high point coming in May, when total assets under management hit their record high of €100.2bn. Total assets were valued at €97.3bn by the end of 2015.

This is the fourth year in a row that total assets have increased in the local funds industry, since a fall between 2010-2011 was noted. Total assets more than doubled between 2005-2015.

There were two distinct trends in subscriptions flows, the data shows. Early in the year flows were positive, however over the summer and in December the flows turned negative on a net basis.

Also, because of stock market volatility through the year, there were some big swings in the value of assets held in equity funds through the year. Net subscriptions to equity funds were €1.4bn for the full year, with assets increasing by some €3bn.

December was also a challenging month for both long and short term bond funds, which saw net redemptions of €175m and €51m respectively by sector.

Nordea Funds retains the top spot by market share, as measured by total assets, having attracted net subscriptions to its locally domiciled funds of some €3.6bn through the year.

OP Fund Management Company managed to attract a similar level of net subscriptions, but remains the second largest provider by total assets.

Danske Invest Investment Management is in third spot as ranked by total assets by year end, however it attracted a far lower level of €99m in net subscriptions through the year.



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