Record outflow from US funds – opting for Swedish

Swedish banks and households make record-large withdrawals from US funds – and invest in Sweden like never before. I believe it will be a lasting trend, says Stefan Westerberg, private economist at Länsförsäkringar.

» Published: March 15 2025

Record outflow from US funds – opting for Swedish
Photo: Richard Drew/AP/TT

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

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By TTTranslated and adapted by Sweden Herald
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