The Danish Investment Funds Association (Investeringsfondsbranchen, IFB) reports that Danish investment funds have produced record dividends for shareholders this year, totalling some DKK34bn (€4.57bn).
Much of this has been re-invested, the IFB says, with April figures for new investments into funds hitting DKK14.4bn for those targeting retail investors. Net sales of funds targeting institutional and foreign investors was around DKK1bn, taking overall net sales through the month to DKK15.4bn (€2bn).
AUM in funds targeting retail investors fell to DKK734bn (€98.7bn), primarily because of the dividend payments. Overall industry AUM fell to DKK1.820trn (€244.7bn).
Funds performance data from April, reported by IFB’s members, points to a mixed bag. Danish equity funds averaged a return of 0.3% through the month, while European and global equity served up 0.9% and 0.6% respectively. US Equity funds returned 0.5% on average but funds invested in Far East equities losts -1.2%. Japanese equity funds returned 3.6%, while Latin American equity funds offered 5%.
On the fixed income side, Danish bond funds barely moved, with returns averaging 0.1% through the month for those with a focus on shorter term instruments and 0.2% for those focused on longer term ones. Emerging markets and investment grade bond funds returned 1.8% and 1.6% respecively, but funds invested in safer investment grade bonds returned just 0.4%.