February shift to equity assets in Sweden

Net sales of investment funds hit SEK5.4bn (€0.6bn) overall in February, but equity funds attracted an even higher SEK12.4bn (€1.4bn), reports the Swedish Investment Fund Association (Fondbolagens förening).

In contrast net redemptions from money market funds hit SEK7.4bn. Hedge funds also recorded redemptions of SEK0.9bn.

Net investments in funds through the first two months of 2012 hit SEK6.4bn, with net investments in equity funds hitting SEK25.7bn (€2.88bn).

Together with the 6.3% gain by the local stock market through February, this helped take total fund AUM to SEK1.96trn (€220bn) – a gain of SEK62bn over the month. This takes total AUM to its highest level since May 2011, the Association said.

Net investments SEKbn February Jan-February 2012
Equity funds 12.4 25.7
Mixed funds 1.2 1.2
Bond funds 0.1 -3.6
Money Market funds -7.4 -14.9
Hedge funds -0.9 -2
Other funds 0.1 0.1
Total 5.4 6.4

 Source: Fondbolagens förening

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