Equity funds draw Swedes in November
Data from the Swedish Investment Fund Association suggest local investors put money into equity funds and withdrew money from fixed income funds through November.
Net inflows to equity fund sectors covered by the data hit SEK10.2bn (€1.1bn) through the month. In contrast, money market funds saw withdrawals of SEK5.6bn (€600m), and money market funds saw withdrawals of SEK9.6bn (€1bn) on a net basis.
Balanced funds drew in SEK3.8bn and hedge funds SEK0.3bn on a net basis. Money market funds
The Association said the shift reflected the trend seen on equity markets. In particular it said net deposits were primarly made in Sweden funds, with the local stock market gaining 4% over the month, including dividend returns.
Total fund assets grew by SEK52bn to SEK3.301trn (€354bn) by the end of November. In the year to date, total net sales of investment funds have hit SEK43.5bn (€4.7bn).