Third of Swedish fund sales to households go via investment savings accounts

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Data published by the Swedish Investment Fund Association suggest a third of net fund sales through the third quarter went through the tax efficient investeringssparkonto (ISK) the investment savings account structure lunched under the previous government – some SEK11bn of total net savings of SEK33bn.

Direct investments in funds by households over the period were about SEK1.6bn, while unit linked net sales were about SEK2.4bn, while the Premium Pension saw net withdrawals of some SEK2bn.

Swedish companies saved some SEK10bn in funds on a net basis through the quarter, the data suggests.

The investment savings account, which was introduced in 2012, has taken a 4% market share, as counted by its share of total fund wealth in the country. Both unit linked (fondförsäkring) and Premium Pension sales mean that as of the end of September they accounted for some 25% of the market each.

The total assets of funds counted by the Association hit SEK2,739bn (€231.5bn) as at the end of September.

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