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Life Health > Life Insurance

Sweden is top pick among Nordic fund groups

By Warren S. Hersch

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Cerulli: Sweden is top pick among Nordic fund groups

Asset managers favor Sweden’s investment fund market over those of all other Nordic countries, according to a new report.

Cerulli Associates, Boston, published this finding in in the first quarter 2013 edition of “The Cerulli Edge: Europe Edition.” The study summarizes the conclusions of interviews with local and international managers at 13 fund groups operating in Europe to solicit their opinions on product design, sales opportunities and distribution.

Two-thirds of the respondents surveyed ranked Sweden as their first best market for sales opportunities among the Nordic countries, a region encompassing Scandinavia, Finland, Iceland, and the Faroe Islands. An additional one-third (33 percent) of the managers polled flagged Sweden as their second best market.

Just over a quarter of the interviewees identified Finland as their first best market. Nearly half (45 percent) and over a quarter (27 percent) said the Scandinavian country was their second and third best market, respectively.

Only one in 10 asset managers pegged Denmark as their first or second choice. Four in 10 respondents (40 percent) labeled the Nordic country as, respectively, their third and fourth best markets.

Norway falls into last place as a favored market: Just 10 percent of the respondents indicated the country was their first or second choice. An additional 30 percent said the country was their third choice; and 50 percent identified Norway as their fourth choice.

When asked for their views on top products by sales volume, one in five of survey respondents (21 percent) identified high-yield debt. This compares with 16 percent, 13 percent and 12 percent, respectively, who favored emerging market debt, loans/credit and emerging market equity.

Smaller percentages of the respondents flagged local/regional bonds (9 percent), hedge funds (6 percent), local/regional equity (5 percent), other (5 percent), local/regional real estate (5 percent), multi-asset (4 percent) and private equity (4 percent).

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