Net inflows remain steady through October, reports Swedish industry association
The Swedish Investment Fund Association has reported that net inflows to funds remained steady through October, with most new money going to equity and balanced funds.
Overall net sales of investment funds through the month hit SEK4.1bn (€462m), taking total fund assets by month’s end to SEK2,389bn (€269bn), which is the highest AUM ever recorded by the Association.
Balanced funds saw net inflows of SEK3.9bn, while equity funds attracted SEK1.bn. Bond funds drew in SEK0.8bn, however, money market funds and hedge funds respectively saw net outflows of SEK1.6bn and SEK0.3bn through the month.
Net sales through 2013 to date have been SEK62.8bn, of which SEK40bn have been in balanced funds. Equity funds have seen total net inflows of about SEK20bn.
Swedish investors were encouraged by another month of positive stock market developments. The value of the Stockholm exchange including dividends rose by about 2% thorough October.