June inflows take Sweden’s net 2017 YTD to SEK60bn
With net inflows of SEK9.8bn (€1bn) in June, Sweden’s investment funds industry saw total inflows on a year-to-date basis hit SEK59.5bn (€6.2bn), data from the Swedish Investment Fund Association show.
With total fund assets up SEK56bn (€5.8bn) through the month, industry assets hit SEK3,817bn (€397bn), which means that industry assets have grown some SEK250bn (€26bn) since the end of 2016.
The month of June saw a turnaround of sorts, with equity funds experiencing net outflows (SEK1bn), although they have accounted for net inflows of SEK25.6bn (€2.66bn) over the first half of the year. This trend reflects the negative performance of the Stockholm Stock Exchange, which lost some 2% including dividends over the month. Sweden equity is a key fund category in the industry.
Other categories experiencing stronger net inflows over the first half included Global funds (SEK22bn/€2.28bn), and index funds, which have achieved niflows of SEK23.7 (€2.46bn).
Fredrik Hård, economist at the Swedish Investment Fund Association, said: “Net sales of funds have been very large during the first half of 2017. Positive stock market development has probably contributed to net deposits of nearly SEK 60 billion, mainly into equity funds,”