Net sales of mutual funds in Finland hit €152m in January, trailing gains made by investors from market movements, which added some €200m of value to total industry assets.
Equity funds saw net sales of €198m, while asset allocation funds took €169m. However, short term bond funds saw net redemptions of some €237m. Investment Research Finland, which published the data, added that “net flows from short term bond funds to riskier asset classes usually indicates an increase in investor risk appetite.”
The figures suggest that the high yield bond fund sector saw net redemptions of about €110m in January, while money market funds saw redemptions of €168m
Total industry assets stood at €106.9bn as of the end of January 2017. By market share, Nordea AM is the biggest provider, with 38.9%; OPM Fund Management Company has 21.7%; and Danske Invest Fund Management has 10.9%.
By assert class, equity funds remain the most popular according to their 37.5% market share. Bond funds have 28% of the market by AUM split. Asset allocation funds account for 18.8% of the market. Money market and other short term funds have 12.7% of the market, while alternatives including hedge funds have 2.9% of the local market.