Markets help push up Finnish funds AUM
Finnish mutual funds saw their total AUM rise to €95.6bn through March, helped mainly by €1.8bn of gains spurred by market movements, and €17.4m by net sales of funds.
Figures from Investment Research Finland suggest positive net sales were experienced by bond funds (€204m), asset allocation funds (€75m) and alternatives funds (€87m).
However, net redemptions hit equity funds (€-255m) and short term bond funds (€-94m).
Nordea Funds remained market leader among Finland domiciled fund management companies measured by AUM, with a 38.5% share. OP Fund Management Company had 21.6% and Danske Invest Fund Management had 11.6%.
Evli Fund Management Company and FIM Asset Management follow with 5.4% and 5.3% of the market respectively.
In the first three months of 2016, the measured net subscriptions across all 20 locally domiciled fund companies recorded a negative figure of €-384.6m.
Investment Research Finland calculates that the AUM total across the locally domiciled provider firms is split between some 2,976,230 shareholders in mutual funds.