Equity fund flows rally through April in Sweden
Data from the Swedish Investment Fund Association suggest local investors turned toward risk assets through April, sending net inflows to equity funds to SEK6.1bn (€629m), accounting for about half the SEK12.4bn (€1.27bn) in total net sales through the month.
The flows helped total fund assets rise by some SEK79bn (€8.15bn), taking the industry total to SEK3.826trn (€), which is another record.
Balanced funds saw net inflows of SEK4.7bn (€xx ), bond funds SEK1.3bn (€xx ), while money market funds saw net outflows of SEK0.5bn (€395bn).
The skew toward equity funds is also reflected in year-to-date figures, which show that some SEK23.6bn out of the total SEK38.5bn (€2.4bn/€3.97bn) net inflows have been accounted for by the asset class. Equity funds account for some 58% of total fund assets in the Swedish market, the data show.
Fredrik Pettersson, chief analyst of the Association, said that investors shifted their focus, taking money out of US funds on a net basis, and buying more global and European funds. Index funds continued to attract attention also; some SEK7.5bn (€774m) in net flows went this way in April.
(Source: Swedish Investment Fund Association)