Stefan Westerberg has compiled the total equity fund savings in Sweden, both among private savers and banks, for the month of February.
The net outflow from North America- and US funds amounts to 13.7 billion kronor. This is the highest figure since 2010, when data collection began.
In parallel, net investments in Sweden funds reached 22.7 billion kronor – a record high as well.
"Reacted strongly"
It is clear that Swedish households have reacted strongly to the new American administration's turbulent politics, which so far has involved trade wars and actions that have turned upside down much of what we previously took for granted, says Stefan Westerberg.
Another partial explanation, he notes, is that the American stock exchanges have started 2025 weakly, weighed down by the large tech companies. This while the Stockholm stock exchange has performed relatively strongly.
Stefan Westerberg expects the trend to continue – at least for a while.
This shift may be about making a different assessment of the American large corporations and the American economy overall, but also emotional expressions such as not wanting to have certain companies in one's portfolio.
Can swing
During the Trump administration's early days, great emphasis has been placed on defense and trade policy. When other things come into focus – such as lower corporate and labor taxes – investors may also swing, believes the economist.
If and when this happens, it can change how one views the valuation of American companies and the development of the American stock exchange, says Westerberg, urging savers to remain calm despite the turbulence.
New savings in equity funds by investment direction for February 2025 (millions of kronor):
Sweden 22,737
Global 9,866
Europe 7,316
Other markets 721
China 713
Nordic countries 365
Eastern Europe 112
Japan −5
Asia −42
India −501
USA −13,677
Source: Länsförsäkringar
