Net new savings in investment funds across all asset classes hit SEK2.4bn in August, although equity funds saw some SEK9.5 flow out, data from the Swedish Investment Fund Association suggest.
Stock markets globally were volatile through the month, and the Stockholm market saw its value fall by some 1.2%, excluding dividends - and falls in the local market typicall pressage lower inflows or even net outflows from equity funds. The largest net outflows were experienced by Sweden and global equity funds, while sector and North America funds went against the trend by managed to attract net inflows.
Long term bond funds attracted some SEK8.3bn in total, of which some SEK1bn went to corporate bond funds. So far this year, net new savings in long term bond funds hit SEK35.5bn, of which some SEK12bn has gone to corporate bond funds.
Balanced funds attracted net inflows of SEK0.3bn, while hedge funds saw net outflows of SEK0.8bn.
Gustav Sjöholm, savings economist at the Association, said that the trend through August was for caution, as investors reacted to the daily changes in market performances by reducing their exposure to equity funds in favour of funds with lower risk.
Total net inflows to investment funds have hit SEk43.3bn so far this year, with the bulk attributed to long term bond funds, followed by equity funds.
Market movements contributed to total assets decreasing by some SEK25bn through August, meaning total assets were SEK4.713trn by month's end. Since the end of 2018, total assets have increased by some SEK734bn.