Net inflows to local funds hit €500m in Finland in April
Finnish domiciled funds received €498m of net subscriptions during April, while also benefitting from positive market developments, data published by Investment Research Finland suggest.
Total industry assets hit €118bn by the end of April. Net inflows were particularly focused on fixed income funds.
Eurozone high yield funds pulled in €286m on a net basis through the month. EMD attracted €196m, global investment grade €135m, and eurozone government bonds €101m.
On the other hand, net redemptions were experienced by equity funds, some €77m worth, which has taken net redeptions for this category of funds since the start of the year to some €1.6bn.
Nordea Funds retains the leading market share, with some 40.3%, while OP Fund Management is in second place with 20.8% of the market. Danske Invest is on 8.7%. However, the April data also suggest that the three biggest players by market share have also been the ones to incurr the biggest net redemptions since the start of 2019. Because of the market concentration, this has impacted the industry's overall trend since the start of the year, notwithstanding the latest month's positive inflows.
