Wrappers attract fund savers through Q3 in Sweden
Data from the Swedish Investment Fund Association point to net sales increasing via wrappers such as the investment savings account (investeringssparkonto, ISK) and unit linked solutions through the third quarter this year, even as the industry experienced net withdrawals from direct fund investments by Swedish households.
Out of a total net investment of SEK1.7bn (€180.9m) by households during the period, the data show that some SEK4.8bn were invested on a net basis via ISK, and some SEK2.9bn via unit linked investments. By category, balanced funds drew the largest share of money, the Association said.
However, at the same time, households took out some SEK10bn (€1.1bn) from their direct savings, mainly by selling shares in equity funds.