Swedish gov’t minister saves in money market fund
Data collected from annual declarations by members of the Swedish cabinet show that the single biggest holding of a collective investment is in a money market fund.
Kristina Persson, minister for Strategic Development and Nordic Cooperation, stands out as the person with the most personal savings and investments in the cabinet, worth some SEK28m (€3m) excluding private and public pension assets. She reported SEK11.5m of assets held directly in securities or in collective investments, representing about 78% of the cabinet’s total personal exposure to securities, notes local daily Dagens Nyheter, which compiled the list.
Of Persson’s wealth, some SEK3m (€0.32m) was held in a money market fund. She also owns forrest land worth some SEK15m – this as a result of her family background in northern Sweden.
From there it is a long way to the second person on the list, Morgan Johansson, minister for Justice and Migration, who has securities worth SEK0.5m in funds.
Sweden’s prime minister is seventh on the list, with about SEK0.3m; Dagens Nyheter reported that the bulk of this is held in the allemansfonden fund offered by Swedbank – a fund that is considered to have kickstarted the fund savings habit in the country.
Fully seven cabinet members reported that they had no savings via securities, for example, because they are using equity drawdown from their properties to fund their savings. These include: Margot Wallström (Foreign Affairs), Ibrahim Baylan (Energy), Sven-Erik Bucht (Rural Affairs), Magdalena Andersson (Finance), Anna Johansson (Infrastructure), Alice Bah Kuhnke (Culture and Democracy), and Annika Strandhäll (Social Security).