Net sales of SEK11bn reported in May for Sweden
Data from the Swedish Investment Fund Association point to net sales of investment funds in the country through May of some SEK11bn (€1.12bn), led by bond funds and further supported by rebates paid out from the Premium Pension system.
Net inflows to bond funds were over SEK7bn (€716m), with inflows to equity funds of SEK3bn (€307m).
Rebates from PPM funds totaled SEK5bn (€511m). Total fund assets increased by some SEK40bn (€4.1bn) through the month, taking total industry assets to a new high of SEK3.869trn (€396bn). Over half, 58%, of total assets are invested in equity funds.
Total net sales on a year-to-date basis are SEK49.7bn (€5bn), of which some SEK26.6bn have been invested in equity funds.
Fredrik Pettersson, chief analyst of the Swedish Investment Fund Association, said: “Characteristic for fund savings in May was that bond funds accounted for the largest inflow, which could be interpreted as a willingness of the active savers to decrease risk before the summer. For equity funds savers chose mostly European funds and sold US funds, a behavior we also noticed in April.”