Swedish fund assets hit record level in November

Suède
On the 12/11/20 at 8:02AM

by

Tuba Raqshan

In November, the total new savings in funds amounted to SEK 20bn (€1.95bn), with large net deposits being made in equity funds.
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The total fund assets increased by SEK 340bn (€33.19bn) in November, touching a record high of SEK 5,313bn (€518.59bn) in November, according to latest data from Swedish investment fund association (Fondbolagens förening). A total of SEK 19.9bn of net new money was poured into the fund industry, with equity funds showing a net inflow of SEK 22.7bn. However, net withdrawals were made during the month from short-term fixed income funds of SEK 2.2bn and from long-term fixed income funds of SEK 0.6bn. In 2020 up to now, net deposits in long-term fixed income funds totalled SEK 3.4bn, while corporate bonds recorded net withdrawals of SEK 1.5bn. Hedge funds and mixed funds also had net withdrawals of SEK 0.6bn and SEK 0.2bn, respectively.

After a historic year, with incredible fluctuations in the financial markets, the Swedish fund assets are now reaching record levels, said Johanna Englundh, savings economist at Fondbolagens förening. “This, if anything, shows the importance of long-term perspective and the value of not panicking, even though it may look dark now. The fund savers chose to invest in equity funds instead of fixed income funds in November, a turnaround from the month before,” added Englundh.