AP7’s equity and fixed income funds are the biggest on the Swedish market. Removing them leaves just 9% for the others on the top ten list - but that 9% is dominated by one major bank, Morningstar figures show.
Investors fled every major asset class in the past week, with US equities and Treasuries a rare exception to the massive exodus, amid concerns that tightening monetary policy will push major economies into a recession.
The market turmoil in the first three months of the year has had more of an effect on Evli than outflows, though the fact that international investors have pulled out of Evli’s corporate bond fund has been felt.
While further declines on the financial markets affected assets under management in all four Nordic fund markets, managers weathered a turbulent April with varying success, AMWatch’s monthly review shows.
Professional investors overwhelmingly prefer to use actively managed funds to deal with environmental, social and governance risks, according to a report from Capital Group that suggests the recent surge in passive ESG strategies may be at odds with industry needs.
The soon-to-be former Head of Sustainable investing at PFA, Sasja Beslik, recently said he was “sick of greenwashing”. Talking to AMWatch, he berates the global ESG industry, calling most funds an empty construct.
Some of Aktia’s international investors started to rebalance away from emerging market products as a consequence of Russia’s newest attack on Ukraine, says CEO Mikko Ayub. The Finnish manager has several new products under development.
The Head of Active Equity and Fixed Income Management is one of three top-level employees that Sweden’s second largest fund manager has lost to Coeli in a short space of time. He brought the two others onboard to launch a new fund at Coeli after the summer.