Swedes flee investment funds
TT/The Local - [email protected]
Published: 10 Jan, 2008 CET.
Updated: Thu 10 Jan 2008 14:25 CET
Swedes saved less money in investment funds in 2007 than at any point since records began in 1994.
Though definitive figures will not be available until Friday, it has already become clear that investors took more money out of funds last year than they put in.
"It is the worst year since we began keeping records," Fredrik Pettersson from the Swedish Investment Fund Association told news agency TT.
In contrast, savings invested in the country's bank have increased by 15-20 percent over the last year.
"This reflects uncertainty on the stock exchange," said Pettersson.
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Though definitive figures will not be available until Friday, it has already become clear that investors took more money out of funds last year than they put in.
"It is the worst year since we began keeping records," Fredrik Pettersson from the Swedish Investment Fund Association told news agency TT.
In contrast, savings invested in the country's bank have increased by 15-20 percent over the last year.
"This reflects uncertainty on the stock exchange," said Pettersson.
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