Where did all the money go? Biggest Nordic fund winners and losers of 2018

AMWatch turns the spotlight on those Nordic equity, fixed income and hedge funds with the biggest inflows and outflows in 2018, using information from Morningstar -- and takes a closer look at the five funds at each end of the league table.
Funds from Danske Invest, including Procapture, appear on several top 5 lists. | Photo: Danica
Funds from Danske Invest, including Procapture, appear on several top 5 lists. | Photo: Danica

AMWatch has been busy crunching 2018 flow data from Nordic asset managers, using figures provided by Morningstar.

Top 10: Which Nordic AM brands topped 2018 inflows?

Turning our focus now on the inflow and outflow data for specific funds and asset classes run by Nordic AM brands, some clear trends come to light.

Among equity funds, there was a tendency towards money being transferred from actively-managed funds, such as Kon-Tika from the Norwegian manager SKAGEN and Didner & George Aktiefond, to passive index funds. For instance, the global emerging market index fund from Procapture, which is part of Danske Wealth Management, and DNB Global Indeks from the Norwegian financial group of a similar name.

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Biggest AM brands dominate fixed income flows

Moving on to fixed income funds, four of the five funds with the highest inflows were based in Sweden. The only outlier was Danske Invest Euro Investment Grade fund -- a fund that actually had a negative net flow in 2017, according to Morningstar data.

The Danish mutual fund provider Danske Invest dominates the list of fixed income outflows, having two of the five funds with the highest negative net flow.

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Outflow outlier

Moving on to alternative investment funds, the tendency is that fixed income strategies outshine their equity counterparts when attracting investment capital.

However, the Nordic fund with the highest outflow across all asset classes was a fixed income hedge fund called Nektar. Nektar is a Stockholm-based macro and fixed income relative value hedge fund and part of the Brummer & Partners.

The Swedish hedge fund group's multi-strategy was among the five alternative investment funds with the highest net flow. Another fund with a big inflow was SEB' Eureka fund.

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