Equity more interesting in September, says Swedish trade body

Latest figures from the Swedish Investment Fund Association (Fondbolagens förening) suggest fund investors in the country switched focus to equity assets in September.

Net inflows hit SEK2.1bn(€244m) for equity funds, and SEK1.4bn (€162m) for balanced funds.

In contrast, net withdrawals were seen from bond funds, SEK-0.3bn, money market funds, SEK-3.2bn, and hedge funds, SEK-1.7bn.

Overall, investors withdrew SEK-1.1bn (€-127m) through the month, although the value of assets under management grew by SEK40bn to SEK1,963bn (€228bn) in total.

The Assocation said that the pattern indicated investors were still uncertain about the direction of returns from the market, despite the fact that Sweden equity funds on average have returned 11% year-to-date.

Other equity sectors fared better during the month, with Europe equity sector funds attracting a net SEK1bn and global equity funds attracting a net inflow of about SEK2bn, the figures show.

September was the fourth month of 2012 to record an overall net withdrawal by investors from funds. During the January-September period, the industry has attracted a net SEK11.7bn (€1.4bn).

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