Fund wealth decreased

The total fund wealth of Swedish-registered funds dropped during the second quarter. The rising trend of the last four quarters was thus broken. At the end of the quarter, fund wealth amounted to SEK 1 454 billion. This figure is SEK 27 billion less than the first quarter.

This was mainly due to a less favourable stock market trend. However, total net savings were still positive, and SEK 28 billion more was deposited in funds than was withdrawn. The largest inflow came from financial corporations, with net savings at SEK 24 billion. It should be noted that households' unit linked funds, premium pension savings and holdings via asset managers are included in the financial corporation sector.

Total fund wealth (SEK billions)

Graph - Total fund wealth (SEK billions)

Households sold equity funds

Households' directly owned fund wealth decreased by SEK 16 billion, amounting to SEK 352 billion at the end of the quarter. Households mainly sold equity funds (SEK 4 billion) and purchased fund-of-funds (also SEK 4 billion). In total, households deposited about as much in funds as was withdrawn during the second quarter.

Households' holdings in unit linked funds amounted to SEK 393 billion, which is a slight increase. The reason is mainly because net savings were considerable (SEK 12 billion) during the quarter. Holdings of premium pension funds dropped by SEK 13 billion, amounting to SEK 292 billion.

Changes in Premium Pension System

In May parts of the Premium Pension System were changed, resulting in considerable consequences for the statistics this quarter. During that month two mixed funds in the Premium Pension System were closed. All of the contents were transferred to two newly started funds, an equity fund and a bond and money market fund. This resulted in a higher negative net savings and a considerable decrease of fund wealth for mixed funds. However, equity funds and bond and money market funds had significant positive net savings and increased wealth.

High savings in bond and money market funds

Savings in money market funds, which are not affected by the above, had an inflow of SEK 7 billion. If bond funds are also included, total savings in bond and money market funds amounted to SEK 20 billion. However, some of this is premium pension funds that have been transferred.

Fund-of-funds, that is, funds that invest in other funds, had net savings of SEK 14 billion. Equity funds had a total net inflow of SEK 79 billion, including the transfer of premium pension funds.

Fund wealth, 2010 quarter 2

	All sectors		Households
	SEK million	Percent‑ age	SEK million	Percent‑ age
Fund wealth, Total	1 453 513	100%	351 952	100%
Equity funds	818 768	56%	252 853	72%
Mixed funds	193 733	13%	31 277	9%
Fund of funds	132 264	9%	33 020	9%
Bond and money market funds	181 731	13%	19 301	5%
Other funds	127 017	9%	15 500	4%

Definitions and explanations

The statistics cover Swedish-registered investment funds. Both mutual funds and special funds are included in the statistics. The category "Other funds" includes funds that could not be classified according to any other category, such as hedge funds.