Assets in Finnish-registered open-end investment funds totalled €226.6 billion at the end of September 2026, up €30.1 billion, or 15.4%, from a year earlier, the Bank of Finland reported on 9 November. Equity funds accounted for most of the increase, while real estate fund assets declined.
Equity fund assets rose by €20.7 billion over the year to €112.9 billion, an increase of 22.5%. They made up nearly half of the combined assets of open-end funds. Bond fund assets grew by €5.8 billion, or 8.1%, and mixed-fund assets increased by €4.1 billion, or 18.2%.
Real estate fund assets fell by half a billion euros, or 9.1%, to about €5 billion. The Bank said they had declined almost continuously over the period examined, unlike assets in other fund types.
Total fund assets edged down in September from the previous month. Bond fund assets fell, accounting for most of the decrease, even as investors made net subscriptions to bond funds. Net subscriptions across all investment funds were positive. Equity fund assets rose, including a contribution from net subscriptions.
Equity holdings grew most outside the EU
At the end of September, Finnish open-end funds held €73.6 billion in equities in countries outside the European Union, including €46.1 billion in US shares. The value of US holdings rose by €9.2 billion, or 24.9%, from a year earlier. Across all non-EU countries, equity holdings increased by about €15.2 billion, or 26.1%.
Funds’ equity investments in Finland grew by €1.7 billion, or 11%, over the year. Holdings in other euro-area countries rose by €1.7 billion, or 17.7%. Investments in EU countries outside the euro area increased by about half a billion euros.
The Bank noted that changes in the reported value of equity investments reflect both funds’ net purchases and movements in share prices and exchange rates.
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