Net sales of investment funds in Sweden hit SEK18bn (€1.97bn) in February, according to data published by the Swedish Investment Fund Association (Fondbolagens Förening).
Total fund assets increased by some SEK170bn to hit a new record of SEK3.303trn (€360.7bn) by the end of the month.
Balanced funds saw net inflow of SEK11.8bn, and equity funds SEK8.4bn. Bond funds recorded inflows of SEK4.3bn, while hedge funds attracted SEK1.3bn.
However, money market funds saw net redemptions of SEK7.7bn (€0.85bn)
Global and Sweden equity funds account for the two biggest sectors as defined by net assets, the Association’s data suggests.
“The interest for investment funds is at record high. Zero interest rate on savings account and an extreme rise in the stock market is among the explanations for the high demand of funds. The large inflow into balanced funds shows that investors want risk diversification. Among equity funds an increased interest for Sweden funds and European funds can be noted,” said Pia Nilsson, managing director of the Swedish Investment Fund Association.