Finansmarknad  Värdepappersfonder, tillgångar och skulder Värdepappersfonderna 1:a kvartalet 2006
In EnglishSummary
List of tables
Continued increase of fund wealth
At the end of the first quarter of 2006, total
wealth in Swedish-registered mutual funds amounted to nearly SEK 1.3 trillion
(or SEK 1295 billion). This is an increase of an entire SEK 134 billion
compared to the previous quarter, and SEK 391 billion compared to the end of
the first quarter in 2005.
Total fund wealth includes owners from all
sectors. Examples of different sectors are financial and non-financial
corporations, households, the social insurance sector and owners abroad.
At the end of the quarter, the wealth of the funds
owned directly by households amounted to SEK 432 billion. Households also own
funds indirectly via fund insurance (unit linked) amounting to SEK 314 billion,
and via pension premiums amounting to SEK 210 billion.
Pension premiums account for high net savings
Since 2002 net savings have been considerably
higher during the first quarter compared to other quarters. This recurrent
pattern happens during the first quarter when money for the PPM (Premium Pension
Authorities) is invested in those funds chosen by households. Therefore, total
net savings during the first quarter are not directly comparable to other
quarters. During the first quarter, total net savings amounted to SEK 52
billion, of which PPM accounted for SEK 21 billion.
It should be noted that several adjustments
have been made for gross and net savings concerning 2005. The most significant
adjustments have been made for the fourth quarter.
Households choose savings in fund-of-funds and other
funds
At the end of the first quarter, the number of
Swedish-registered mutual funds was 625, or 35 more than the first quarter of
2005. The fund-of-funds category accounted for the largest increase; during the
year the number of these funds increased from 34 to 54. The other funds
category (including hedge funds) has also increased sharply in number.
During the quarter, direct net savings of
households amounted to SEK 3.1 billion. Above all, households chose to save in
fund-of-funds, where net savings amounted to SEK 2.2 billion. The other funds
category had the next highest amount of savings, or SEK 1.8 billion.
Households' net savings in equity funds were negative, since households
withdrew more money than they deposited.
Favourable stock market for equity funds
By the end of the first quarter of 2006, equity
funds accounted for 59 per cent of total fund wealth, or SEK 769 billion in
monetary terms.
During the quarter total fund wealth increased
by SEK 134 billion, of which equity funds accounted for SEK 88 billion. Of this
SEK 88 billion, net savings accounted for SEK 18 billion. Stock exchange rates
(not increased savings) is behind the remaining increase of SEK 70 billion.
The Stockholm Stock Exchange rose by 12 per
cent during the first quarter. The US stock exchange also increased; NASDAQ
Composite rose by slightly more than 6 per cent and S&P 500 by just under 4
per cent. However, effects of the upward US stock market slowed down since the
Swedish krona gained strength against the US dollar. At the end of 2005 one US
dollar was worth SEK 7.95, compared to 7.75 at the end of the first quarter of
2006. Looking at the European market, the German DAX index rose by more than 10
per cent during the quarter.
1. Number of funds
2. Market value of funds, SEK million
3. Net savings incl. reinvested dividends specified by sector, SEK million
4. Market value of funds specified by sector, SEK million
5. Gross savings in funds, SEK million
6. Household gross saving in funds, SEK million
7. Fund investments at market value, total, SEK million
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