Swedish investment funds recorded a net outflow of SEK 8.4bn in June, according to the Swedish Investment Fund Association.

The total fund assets in Sweden decreased during the month by SEK 370bn and amounted to SEK 5,830bn at the end of the first half of the year. So far this year, funds have a net outflow of a total of SEK 38.7bn, of which SEK 38.2bn is net withdrawals from equity funds.

Equity funds had net withdrawals of SEK 8.1bn and net withdrawals of SEK 3bn were made from mixed funds. Long-term fixed income funds also showed net outflows of SEK 5bn. On the other hand, net deposits were made during the month in short-term fixed income funds of SEK 2.6bn and in hedge funds of SEK 4.8bn.

“The first summer month did not offer savers any financial sunshine. The value of savers' assets decreased as the world's stock markets fell at the same time as the cost of living increases with rising prices. Active fund savers let their money go on holiday in June, as they sold equity funds and instead bought short-term fixed income funds and hedge funds.

“On the equity side, however, we see continued purchases of broad global funds. My tip for the long-term saver is to continue saving monthly, even though inflation and rising interest rates now require that a larger part of the income goes to short-term expenses,” Swedish Investment Fund Association savings economist, Philip Scholtzé, said.

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