Households continue to buy funds

Households' continued net inflow in funds comes from a net inflow of mixed funds of SEK 2.5 billion. Households' net outflow of bond and money market funds was SEK 1.0 billion. At the end of the first quarter households' directly owned fund wealth amounted to SEK 353 billion, which can be compared to SEK 328 billion for the last quarter of 2011. The premium pension and unit-linked funds, which are indirect fund holdings of households, increased during the first quarter by SEK 27 and 23 billion respectively.

Negative net savings

Despite that households accounted for a net inflow, total deposits in funds were smaller than the withdrawals. During the first quarter, funds showed a net outflow of SEK 0.4 billion. This can be compared to the previous quarter when net savings were SEK 31.9 billion.

A contributing reason that funds showed a net outflow can, among other things, stem from the fact that the social insurance sector accounted for a net outflow of SEK 2.3 billion.

The financial corporate sector had net savings of SEK 0.6 billion. It should be pointed out that unit-linked funds and premium pension savings as well as holdings by asset managers that may have households as final owners are included in this sector. Swedish non-financial corporations bought for SEK 0.2 billion more than they sold for. Foreign owners had negative net savings of 0.3 billion.

Equity funds showed a net inflow

Equity funds accounted for a total net inflow of SEK 16.6 billion. However, bond and money market funds accounted for a total net outflow of SEK 24.2 billion during the first quarter. Purchases of mixed funds exceeded sales by SEK 3.7 billion. Fund-of-funds had a total net inflow of SEK 2.9 billion. Purchases of other funds exceeded sales by SEK 0.7 billion.

Total fund wealth increased

At the end of the first quarter total fund wealth in Swedish registered funds equalled SEK 1 644 billion, an increase of 109 billion compared to the last quarter of 2011. Compared to the corresponding quarter in 2011, fund wealth has increased by SEK 13 billion.

Equity funds accounted for a large part of the increase in fund wealth. Equity funds increased by 101 billion and amounted to a total of SEK 891 billion. However, fund wealth in bond and money market funds decreased by 24 billion and amounted to SEK 205 billion. Mixed funds increased by SEK 51 billion while fund-of-funds decreased by SEK 22 billion. Other funds increased by SEK 3 billion.