Swedish fund assets top SEK2trn for first time
Assets in funds in Sweden have topped SEK2trn (€231bn) for the first time, says the Swedish Investment fund Association.
Positive net sales of funds last month, November, hit SEK1.4bn, as investor acquired balanced and fixed income funds – although they continued to withdraw money from equity funds, with net redemptions here hitting SEK-4.6bn.
Hedge funds also saw a small, SEK-0.5bn, level of net redemptions.
“The fact that balanced funds received the largest net inflows, while equity funds recorded net withdrawals, in November shows that active fund investors remained reluctant to equities and preferred risk diversification”, said Pia Nilsson, managing director of the Association.
So far in 2012, about SEK37bn have been invested in funds on a net basis.