Nordnet’s customers sell Russia funds, adopt caution
Net sales of funds through March have been lower than in the first two months of the year, with a clear trend in redemptions from Russia funds, according to Nordnet, the Swedish fund supermarket.
Net sales of all types of funds through March were some 15% below levels seen in January and February, according to the data on accounts held by Nordnet’s 230,000 customers.
The trends are pointing towards a more cautious approach, particularly in regards to equity funds, following a period since November 2012 when most of the world’s stock markets have been serving up strong performances.
However, the Russian stock market has disappointed since the start of the year, and many investors are now selling their Russia funds, Nordnet said. But, it added that this trend doomed investors to failure because it is “nearly impossible” to time the market. All that investors end up doing is losing market exposure every time they trade, which will reduce return.
|Most sold funds on net basis|
|BID & ASK STELLA NOVA|
|BRUMMER & PARTNER LYNX|
|LÄNSFÖRSÄKRINGAR KORT RÄNTEFOND|
|HANDELSBANKEN ASTRAZENECA ALLEMANSFOND|
|AMF PENSION RÄNTEFOND KORT|
|EAST CAPITAL RYSSLANDSFOND|
|LANNEBO SVERIGE 130/30|
|Mest bought funds on net basis|
|SPILTAN RÄNTEFOND SVERIGE|
|DIDNER & GERGE SMÅBOLAG|
|ALLIANZ THAILAND EQUITY|
|SPILTAN AKTIEFOND INVESTMENTBOLAG|
|DIDNER & GERGE AKTIEFOND SVERIGE|
|NORDNET AKTIEINDEX SVERIGE|