Swedish fund industry hits another AUM record in March

Figures published by the Swedish Investment Fund Association show that the country’s fund industry hit another record AUM of SEK2.18trn (€261.3bn) in March, as monthly net investments hit SEK3.5bn (€419m).

Biggest net sales gains were seen in the area of balanced funds, which took SEK4.4bn on this basis. Equity funds attracted SEK1.5bn on a net basis, but bond funds saw net redemptions of SEK-3.1bn.

The Association said that so far in 2013, net investments have been SEK26.5bn, of which Sek18.3bn (€2.2bn) have been in equity funds.

Pia Nilsson, chief executive (pictured), said that the interest in balanced funds may be down to investors looking to spread risk, but also because investments on behalf of workplace pensions through the month would typically target this type of fund.

She said that what was particularly interesting during the first quarter was the demand for equity funds, where Sweden funds accounted for about half, or SEK10bn in net investments.

“Funds that invest in the Nordic region, North America and globally have been in demand, while emerging markets funds have seen net redemptions, although these should be seen as marginal in mind of the high levels of interest in these funds in recent years,” she said.

Net sales of funds  SEKbn  SEKbn
   March Total Jan-Mar
Equity 1.5 18.3
Balanced 4.4 15.5
Bond -3.1 -12.8
Money market 0.9 6.1
Hedge -0.1 -0.4
Other 0 -0.1
Total 3.1 26.5

 

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