Swedes flock to equity funds in November

Swedish flagSwedish investors fled fixed income and went into mainly domestic and North American equity funds in November, according to Sweden’s Investment Fund Association. Net inflows to equity funds reached 10.2 billion Swedish krona (€1.1 billion) over the course of the month. By contrast, bond funds experienced outflows of 5.6 krona – including 1.9 billion krona from corporate bond funds. Money market funds also saw outflows. About 57% of Sweden’s 3.3 trillion krona of assets under management in funds is now invested in equity funds. November was a positive period for the Swedish stock market, with the value of the Stockholm Stock Exchange (including dividends) rising by nearly 4% during the month. Most equity fund categories achieved positive net inflows over the month, with Swedish and North American funds receiving the largest deposits. "In November fund investors' interest for equity funds grew significantly, this remained supported by positive a stock market development,” says Fredrik Pettersson, chief analyst at the Swedish Investment Fund Association. Despite this significant monthly increase, equity funds have experienced total net outflows of 28 billion krona this year. However, index funds have been the largest beneficiaries, receiving net inflows of 17.5 billion krona since the start of 2015. ©2015 funds europe

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