Swedish fund industry attracts net SEK7bn through March

Data published by the Swedish Investment Fund Association shows about SEK7bn (€773m) in net new sales were made through March.

The net sales took total AUM to a new high of SEK2.559trn (€283bn) across the industry represented by the Association.

Investors were particularly attracted to bond funds and balanced funds through the month, it said. Bond funds saw net inflows of SEK5.7bn, of which SEK3.3bn went to corporate bond funds.

Balanced funds saw net inflows of SEK3.8bn. Money market and other funds respectively saw net inflows of SEK3.4bn and SEK2.5bn.

However, investors withdrew money from equity funds, which saw net outflows of SEK8.5bn. The Association blames a volatility in the stock market “not least due to the situation in Russia and Ukraine.”

Pia Nilsson, managing director (pictured), added: “In turbulent times, active fund investors do reallocate from equity- to fixed income investments, and that is what we have seen during the last month as a result of the situation in Russia and Ukraine. Overall, the net inflows into investment funds remain strong.”

Total net sales of investment funds through the first quarter of 2014 hit SEK29.8bn. Equity funds still account for some 55% of total industry AUM.

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