Finns increase investments in mutual funds
The number of Finnish investors who invest in mutual funds has risen 5% to more than 1 million over the past year, data published by the Federation of Finnish Financial Services shows.
The FFI study Säästäminen, luotonkäyttö ja maksutavat says that 24% of those who participated in the related survey owned mutual fund shares. This was 5% higher than a year ago.
The news follows figures for the industry in April, which saw net subscriptions to mutual funds domiciled in Finland go above €924m. By the end of April related mutual fund assets under management reached a new record high of €78bn.
Net subscriptions to bond funds hit €726m through the month, with equity funds attracting €414m, while money market funds saw net redemptions of €400m.
Nordea Funds, OP Fund Management Company, and Danske Invest Fund Management remain the top three providers, with market shares of of 32.3%, 19.4% and 13.2% respectively, FFI’s latest monthly data suggests.
The data applies to some 497 funds domiciled in Finland. As of the end of April figures, year to date net subscriptions across all funds were running at just over €2bn.