In August total net subscriptions into mutual funds domiciled in Finland were 864 million euros

In August total net subscriptions into mutual funds domiciled in Finland were 864 million euros. Positive market development increased total assets under management by 1 billion euros. At the end of the month total net assets under management reached all-time high of 84.95 billion euros.

Biggest gainers of new capital in August were long-term bond funds with net subscriptions worth of 492 million euros. At the end of August year to date net subscriptions into long-term bond funds were worth of 3.3 billion euros. This is more than in any other fund class. Long-term bond rates have fallen especially in Europe due the low inflation expectations and the actions of ECB. Since the beginning of the year the total cumulative value of long-term bond fund assets has increased over 1 billion euros. Investors used long term-bond funds to protect their assets against effects of the Ukraine crisis. German government bond 10 year rate dropped to a record low level of 0.88 percent.