Global funds are once again attracting more savers, according to statistics from the online banks Avanza and Nordnet.
As global tech companies have grown, global funds have become increasingly IT- and technology-focused. The five largest tech companies - Nvidia, Apple, Alphabet, Microsoft and Amazon - account for nearly 20 percent of the typical global fund's value, according to Nordnet. In addition, nine of the world's ten most valuable listed companies are classified as tech companies.
Exposure to others
But the AI concerns of recent weeks have served as a reminder that stock market gains do not last forever.
Maria Landeborn at Danske Bank sees no reason to panic, but urges small savers to spread the risks and, for example, also invest in Swedish and European funds.
In Sweden and Europe we have much more banking and classic industry than in a global fund. If you are worried about AI exposure, it is a good complement. Then you get exposure to completely different types of companies and sectors.
Adding some emerging market funds is also not a bad idea, according to Landeborn. At the same time, she notes that these are also increasingly characterised by AI and IT.
When choosing between actively managed funds and index funds, Maria Landeborn advises basing the portfolio on index funds.
Among the world's largest companies, it is difficult for an active manager to know more than anyone else. In small companies, it can be good to have an actively managed fund with room for more personal analysis, she says.
Rising prices
After many savers abandoned the US last year and let their money flow to Europe, several American and Asian AI companies performed extremely strongly.
In a short time, some stocks rose by several hundred percent and valuations skyrocketed.
Maria Landeborn still does not want to talk about a general AI bubble on the stock market.
However, the price development in some AI stocks has been too fast, she says.
Interest in pure technology funds has cooled compared with last month, shows the online bank Avanza.
In July, net purchases were instead greatest in global funds.
More than half of fund savers' new purchases went to broader global funds.
The most sold funds were defence funds, precious metals funds and small-cap funds.
The most purchased funds were global funds, Sweden funds and emerging market funds.
Source: Avanza.
