Sweden’s July net inflows hit SEK7.2bn
Data from the Swedish Investment Fund Association point to net inflows in July of SEK7.2bn (€752m), primarily in fixed income and balanced funds.
Money market funds saw net inflows of SEK4.2bn, with bond funds attracting SEK2.8bn on a net basis. Balanced funds saw inflows of SEK1.4bn.
However, equity funds saw net outflows of SEK2bn over the month, as investors adjusted risk exposures.
The reversal of net flows to equity funds reverses a broader trend seen through the year thus far, with net inflows to this category of SEK23.5bn clearly greater than flows to balanced (SEK19.2bn) or bond funds (SEK16.2bn), the Sifa figures show. However, in line with previous trends, as the Stockholm Stock Exchange shed some 3% of its value over the month, it is unsurprising that equity funds saw net outflows.
The equity outflows contributed to the fall in industry assets by some SEK38bn (€3.97bn) over the month to a total of SEK3,779bn (€395bn), however since the end of 2016, industry assets have increased by some SEK212bn (€22.2bn).