February flows indicate cautious Swedish investors
Data from the Swedish Investment Fund Association suggest local investors took a more cautious approach during February, resulting in an overall net outflow of SEK0.4bn (€43m) from the industry even as net inflows to money market funds hit SEK4.9bn (€528m).
Equity funds saw net outflows of SEK3.7bn, and bond funds SEK1.6bn. In the first two months of 2016 total net outflows have hit SEK11.2bn (€1.2bn), but equity fund outflows have totalled even more at SEK19.2bn (€2bn) the Association said.
Fredrik Pettersson, chief analyst, said: “Fund investors showed a cautious approach towards the stock market also in February, which resulted in the fact that money market funds, despite the low interest rates, had the largest net inflows during the month.”
Total fund assets in Sweden rose by some SEK10bn (€1bn) to reach SEK3.097trn (€334bn) by the end of February.