Net inflows at a record high in Danish mutual funds – Danske Invest surges for the first time in months

Strong net inflows to Danish mutual funds continued in October, bringing the YTD numbers to a record high. The largest player Danske Invest, which has seen outflows continued throughout 2020, saw a net inflow DKK of 1.2bn in October.

Kim Pilgaard, investment specialist at Danske Invest. | Photo: PR/Danske Bank

So far, 2020 has been a strong year for inflows to Danish mutual funds. In October, the net inflow was DKK 2.7bn bringing the YTD inflow to DKK 64.6bn – by far the highest net inflow ever for January-October.

The massive assets under management inflow owes to the broad introduction of negative deposit rates from Danish banks. This is expected to continue in Q4 and into 2021, as some banks have lowered the threshold further for deposits that will not be affected by negative rates, which takes effect from the new year. 

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