‘World’s cheapest’ global equity fund draws SEK1bn within month of launch

Avanza, the Swedish platform for savings and investments, has announced that its “world’s cheapest” global equity fund has pulled in SEK1bn (€97m) of net inflows in its first month on the market.

The management fee for Avanza Global is 0.05% and the total annual cost for customers is approximately 0.1%, including annual fee and transaction costs, the manager stated at the time of its launch in August this year.

Avanza Global is a feeder fund that invests in a global index fund, developed after research with Morningstar. With more than 1,500 securities in the portfolio, invested globally, it acts as a global index fund despite legally being a feeder fund.

The fund’s launch has also been cited as a reason Avanza has pushed up its total client number to over 800,000. Åsa Mindus Söderlund, CEO of Avanza Fonder (pictured), said the net inflows indicated that the fund was pitched correctly to meet investors’ needs. The average customer of Avanza remains a 30-year-old male living in a city, but some 40% of new customers are women, suggesting the the customer base is becoming increasingly gender balanced.

Jonathan Boyd
Editorial Director of Open Door Media Publishing Ltd, and Editor of InvestmentEurope. Jonathan has over two decades of media experience in Japan, Australia, Canada and the UK. Over the past 17 years he has been based in London writing about funds and investments. From editing the newsletter of the Swedish Chamber of Commerce in Japan in the 1990s he now focuses on Nordic markets for InvestmentEurope. Jonathan was awarded Editor of the Year at the Professional Publishers Association (PPA) Independent Publisher Awards 2017. Shortlisted for the same in 2016, he was also shortlisted in 2017 and 2015 for the broader PPA Awards category Editor of the Year (Business Media).

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