Investment funds 2nd quarter 2017:
Total fund wealth continues to grow
Statistical news from Statistics Sweden and Swedish Financial Supervisory Authority 2017-08-22 9.30
Total fund wealth in Swedish-registered investment funds was SEK 3 604 billion at the end of June 2017. This is an increase of SEK 82 billion since the previous quarter, compared with an increase of SEK 177 billion in the first quarter of 2017. Fund wealth directly held by households contributed SEK 12 billion to the increase.
Positive total net savings
Total deposits in funds remained greater than withdrawals. Net savings in the second quarter totalled SEK 41 billion. This is mainly due to net deposits of SEK 29 billion through financial enterprises and SEK 8 billion through foreign ownership. It should be pointed out that the financial enterprises sector includes savings in unit-linked funds and premium pensions as well as holdings by asset managers that may have households as the final owners.
Fund savings of households
Fund wealth in Swedish-registered funds directly held by households increased by SEK 12 billion in the most recent quarter and reached SEK 679 billion at the end of June. The positive market development was the largest contributor to the increase with SEK 10 billion and net savings amounted to SEK 2 billion.
Households’ net savings were positive in the categories fund of funds, at SEK 5 billion, and other funds, at SEK 1 billion. Bond and money market funds, equity funds and mixed funds had negative net savings in the quarter.
Equity funds increased the most in the quarter
Units in equity funds and other funds have been purchased for SEK 14 billion more each than they have been sold for in the second quarter. Fund of funds also had positive net savings of SEK 11 billion. All fund categories increased their fund wealth in the quarter. Equity funds increased by SEK 50 billion, which was the greatest increase of all fund categories. The positive development on the stock market may be a contributing factor.
All sectors | Households | ||||
---|---|---|---|---|---|
SEK millions | Share in percent | SEK millions | Share in percent | ||
Fund wealth, Total
|
3 604 194 | 100 | 679 273 | 100 | |
Equity funds
|
1 926 532 | 53 | 358 095 | 53 | |
Mixed funds
|
463 783 | 13 | 111 092 | 16 | |
Fund of funds
|
423 309 | 12 | 98 623 | 15 | |
Bond and money market funds
|
381 101 | 11 | 63 192 | 9 | |
Other funds
|
409 469 | 11 | 48 272 | 7 |
Exchange rate development
The average exchange rate for one euro was SEK 9.69 in the second quarter, compared with SEK 9.51 in the first quarter of 2017. However, the krona gained strength against the US dollar, with an average exchange rate of SEK 8.80, compared with SEK 8.92 in the previous quarter.
Investments in foreign currency are affected by the development of the exchange rate, and a stronger krona reduces the value of these holdings when converted to kronor. The development of the krona against the US dollar in the quarter has contributed to the decrease in value of investments in US dollar. The development of the krona against the euro has had the opposite effect.
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.
Publication
A more detailed report of this survey has been published in the Statistical Report available on Statistics Sweden's website www.scb.se/fm0403.
Next publishing will be
The next press release in this series is scheduled for publishing on 2017-11-20 at 09:30
Statistical Database
More information is available in the Statistical Database
Feel free to use the facts from this statistical news but remember to state Source: Statistics Sweden.