Sweden February net inflows biggest since October 2009

Net inflows to investment funds in February of SEK14.6bn (€1.75bn) were the highest monthly recorded since October 2009, according to the Swedish Investment Fund Association.

Equity funds took in SEK7bn, and balanced funds SEK7.6bn.

However, bond funds saw a net withdrawal of SEK3.8bn, in a further sign that investors are rotating out of fixed income into equities.

So far in 2013, Swedish fund investors have put a net SEK16.7bn into equity funds, SEK11.1bn into balanced funds, but withdrawn SEK9.8bn from bond funds.

Fund flows in Sweden are historically correlated to the performance of the local stock market. The Stockholm Stock Exchange rose 3.6% in February excluding dividends, the Association said. The overwhelming majority of net investments in equity funds went to Sweden funds through the month, it added, taking net assets for this sector to SEK354.3bn (€42.5bn)

Net withdrawals from equity funds were heaviest in the Eastern Europe, China and India sectors.

Total fund assets gained SEK40bn over the month to hit SEK2.153trn (€258bn)

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