SEK3.2bn into Swedish investment funds in November
Net sales of investment funds in Sweden hit SEK3.2bn (€355m) in November, data from the Swedish Investment Fund Association show.
The net sales took the industry AUM to a new record of SEK2.443trn (€271.2bn).
Balanced funds (SEK4.5bn), equity funds (SEK0.3bn), and bond funds (SEK0.1bn) saw positive net sales. However, money market (SEK-0.9bn) and hedge funds (SEK-0.8bn) saw net withdrawals through the month.
Year to date net sales have hit SEK66bn, of which nearly SEK44bn (€4.88bn) has been invested in balanced funds, the Association’s data show.
Equity funds have attracted a net inflow of SEK20bn, with Sweden and North America funds accounting for the majority of the investments. Net withdrawals have been seen from emerging market funds, particularly those focused on Eastern Europe. The Association notes that about half of the amount invested in equity funds so far this year has been into index funds.
Following the latest monthly data, Pia Nilsson, managing director of the Swedish Investment Fund Association, said: “The interest for balanced funds remains at a high level, which indicates that fund savers have a strong desire for risk diversification.”