Data from the Swedish Investment Fund Association suggest SEK7.2bn (€707m) in net flows were seen by the country’s fund industry through May, mainly into equity and balanced funds.
Together with market movements, the value of total fund assets increased by SEK38bn (€3.7bn) to a new record high of SEK4.233trn (€415.7bn).
Over the month, equity funds saw SEK7bn in net flows, while balanced funds added SEK3.7bn.
Outflows were experienced by hedge funds, SEK-3.3bn, and short term fixed income funds, SEK-0.6bn.
However, of the overall net inflows through the month, some SEK5bn (€490m) was due to deposits in the Premium Pension system stemming from rebates on fees and inheritance gains, the Association reports.
By sector, equity funds invested globally attracted the most net inflows, of about SEK4.4bn, while Sweden funds saw net withdrawals, SEK-1.66bn. This reflects a broader trend seen in the first five months of 2018, in which Sweden funds have experienced net withdrawals of some SEK-13.5bn, but global funds have attracted net inflows of SEK15.6bn.
Index funds have attracted SEK14bn (€1.37bn) so far this year, the Association added.
Equity funds remain the biggest asset class, with some 60% of total industry funds invested.