Investment funds 3rd quarter, 2019
Fund wealth continues to increase despite declining net investments
Statistical news from Statistics Sweden and Swedish Financial Supervisory Authority 2019-11-21 9.30
Total fund wealth amounted to SEK 4 526 billion at the end of September 2019, an increase of SEK 125 billion compared with the previous quarter. Households’ directly-owned fund wealth contributed SEK 16 billion to the increase in total fund wealth in Swedish-registered investment funds.
Positive total net savings
Swedish financial enterprises was the sector in which fund wealth increased the most, by SEK 98 million, despite relatively small net investments of SEK 4 billion. The Swedish financial enterprises sector includes unit-linked funds and premium pension savings, and holdings by financial corporations that may have households as final owners. Foreign owners’ holdings decreased by SEK 13 billion in the third quarter.
Equity funds was the fund category to increase most in the third quarter, by SEK 76 billion. A positive market development lies behind this increase, as net investments amounted to minus SEK 11 billion. The second largest increase, SEK 18 billion, was in mixed funds, followed by SEK 14 billion in fund-of-funds.
Source: Statistics Sweden
Households’ investments in funds
Households’ directly-owned fund wealth amounted to SEK 830 billion in the third quarter of 2019, which is SEK 16 billion more compared with the previous quarter and SEK 43 billion more than in the third quarter 2018. Households invested most in fund-in-funds, SEK 3 billion net, and the least in equity funds, minus SEK 5 billion. In terms of total fund wealth, the equity funds category remains unequivocally the largest category, with SEK 415 billion, followed by SEK 150 billion in fund-in-funds.
The Swedish krona continued to weaken
The average exchange rate for one euro was SEK 10.66 in the third quarter of 2019, compared with SEK 10.62 in the second quarter. The Swedish krona was also weakened against the US dollar, with an average exchange rate of SEK 9.59, compared with SEK 9.45 in the previous quarter.
Investments in foreign currency are affected by the development of the exchange rate, and a weaker krona increases the value of these holdings when converted to Swedish kronor. The development of the Swedish krona against the US dollar and the euro during the third quarter contributed to the increased value of investments in these currencies.
Number of active funds in the statistics
There were 744 active funds during the third quarter.
Definitions and explanations
These 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.
Next publishing will be
The next press release in this series is scheduled for publishing on 2020-02-21 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.