Portfolio assets consist of foreign shares and investment fund shares, as well as long-term and short-term debt securities. The increase in assets in the first six months of 2016 is mainly due to an increase in long-term debt securities by SEK 96 billion. The rise occurred mainly in the United States, where SEK 269 billion, or 24 percent, of Sweden’s total holdings in long-term debt securities is placed.

Holdings in foreign shares remained relatively unchanged compared with December 2015, and amounted to SEK 2 137 billion. Holdings decreased mainly in the United Kingdom and Finland, while the largest increase was in the United States. Holdings in foreign investment fund shares amounted to SEK 1 200 billion, of which SEK 704 billion, or 59 percent, are in Luxembourg. In the first six months of 2016, foreign holdings in short-term debt securities increased, mainly in Norway, and total holdings amounted to SEK 55 billion at the end of June.

The United States remains the single largest recipient country of Swedish portfolio investments abroad and accounts for nearly 29 percent of total portfolio assets. This corresponds to SEK 1 307 billion. Luxembourg and the United Kingdom also feature high on the list among Swedish investors, as roughly 24 percent of total portfolio assets are distributed on these two countries. Among the largest recipient countries, the United States accounted for the largest increase, corresponding to SEK 90 billion, or 7 percent, compared with December 2015.

Other financial institutions remain the largest holder sector

The other financial institutions sector, which includes securities companies, fund management companies and insurance companies, continues to be the largest sector of resident holders and held 60 percent of total portfolio investments abroad. Among Sweden’s total foreign shareholdings, the sector held 71 percent, and the percentage of holdings in foreign investment fund shares and debt securities amounted to 55 percent and 46 percent, respectively.

Swedish investors’ holdings of foreign debt securities increased both in government-issued debt securities and in debt securities issued by other sectors. Holdings in long-term debt securities issued by other issuers accounted for 58 percent, while holdings in long-term government debt securities accounted for 42 percent. Among short-term debt securities, holdings issued by other issuers accounted for the largest proportion, 81 percent, while government certificates accounted for 19 percent, according to the June 2016 survey.

As in previous surveys, holdings in long-term debt securities were dominated by securities issued in US dollars and Euros. US dollars was the largest denomination currency also among short-term debt securities.

2017-09-29 09:30