Investment funds 3rd quarter 2017:
Total fund wealth continues to grow
Statistical news from Statistics Sweden and Swedish Financial Supervisory Authority 2017-11-20 9.30
Total fund wealth in Swedish-registered investment funds was SEK 3 690 billion at the end of September 2017. This is an increase of SEK 86 billion since the previous quarter, compared with an increase of SEK 82 billion from first to second 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 third quarter totalled SEK 27 billion. This is mainly due to net deposits of SEK 17 billion through Swedish financial enterprises and SEK 12 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 691 billion at the end of September. Households’ net savings were negative in the third quarter and amounted to SEK minus 1 billion, therefore the increase in total fund wealth is due to positive market development.
Households’ net savings were positive in the categories fund of funds, at SEK 2 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.
Other funds increased the most in the quarter
Units in other funds have been purchased for SEK 15 billion more than they have been sold for in the third quarter. Equity funds and fund of funds had positive net savings of SEK 8 and 5 billion respectively. All fund categories increased their fund wealth in the quarter. Equity funds increased by SEK 52 billion, which was the greatest increase of all fund categories, mainly caused by positive market development.
Exchange rate development
The average exchange rate for one euro was SEK 9.56 in the third quarter, compared with SEK 9.69 in the second quarter of 2017. The krona gained strength against the US dollar as well, with an average exchange rate of SEK 8.14, compared with SEK 8.80 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 EUR and USD in the quarter has contributed to the decrease in value of investments in these currencies.
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 in any other category, such as hedge funds.
Next publishing will be
The next press release in this series is scheduled for publishing on 2018-02-21 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.