Swedes spend net SEK20.5bn on funds in April
Net sales of investment funds hit SEK20.5bn (€2.2bn) in Sweden in April, according to data from the Swedish Investment Fund Association.
Net sales were recorded across all categories, although peak interest was seen in balanced funds, which attraced SEK11.8bn. Overall assets increased to a new industry record of SEK3.376trn (€365bn).
Bond funds saw net sales of SEK3.9bn, while equity and money market funds attracted SEK1.5bn and SEK0.4bn respectively. Hedge funds attracted SEK1.3bn.
Total net sales in 2015 to date have been SEK60.5bn (€6.5bn), of which three quarters has been in balanced funds
Pia Nilsson, CEO of the Swedish Investment Fund Association, said: “A great interest for balanced funds has been evident a long time and during last month the trend was strengthened further since April is a month with large deposits to occupational pensions.”