Bond and equity funds attract Finnish investors through October
Finnish mutual fund investors put more money into bond and equity funds through the past month, on a net basis, but withdrew money from money market and alternative funds, data from Investment Research Finland suggest.
Net subscriptions to all mutual funds in Finland was €272m over the month. Coupled with market performance, overall assets under management increased by €4.1bn. Total assets are thereby over €96bn for asset managers and their funds domiciled in Finland.
Equity funds took the majority of net new money, some €400m, while long term bond funds took in €195m, and asset allocation funds some €148m over the month on a net basis.
Net outflows from short term bond funds hit €471m, with an additional €1m taken out of alternative funds.
According to the latest monthly data, Nordea Funds holds a 37.6% market share in Finland. OP Fund Management Company has 22.4% of the market, and Danske Invest Fund Management has 12%.
Equity assets account for 36.9% of the market, however global asset allocation as a sector accounts for 18% of the market by assets under management, and investment grade bonds (EUR) account for 10.6% of the market.