April net fund sales record in Sweden

Sweden’s fund market set a record in April as net sales hit SEK26bn (€2.89bn), reports the Swedish Investment Fund Association.

The industry saw net deposits across all fund categories, helping take total net assets to a new high of SEK2.617trn (€290.8bn).

Bond funds were the big winners: net inflows hit SEK13.5bn, of which SEK2.4bn was in corporate bond funds.

Equity and balanced funds saw net inflows of SEK6.5bn and SEK5.2bn respectively, while money market funds saw net deposits hit SEK0.6bn.

Total net sales of investment funds so far in 2014 have hit SEK55.7bn, of which SEK28.4bn have been in bond funds.

The April figures surprised the Association, according to managing director Pia Nilsson (pictured).

“It was a surprisingly large net inflow into investment funds in April, mainly in bond funds but also in equity and balanced funds. April is a month with large placements to occupational pensions and it also seems that institutional investors have chosen investment funds to a large extent. The large inflow into bond funds indicates a desire for more secure investments and an expectation of lower interest rates.”

Investor sentiment was also supported by the positive direction of the Stockholm Stock Exchange, which gained almost 2% through the month, including dividends.

The funds that saw net withdrawals rather than deposits included sector funds and Russia funds.

 

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