(Bloomberg) --

Swedish retail investors ended a record year dominated by equity investments by boosting their ownership in fixed income funds.

Both short and long fixed income funds were popular investments in December as they attracted 46 billion kronor ($5.1 billion) combined, according to data from the Swedish Investment Fund Association. Hedge funds experienced a small net outflow as many suffered from the volatility in rates markets in November.

The Nordic nation’s net investments in funds amounted to 195 billion kronor for the full year, marking a record, the association said. The most popular asset class over the year was equity funds.

“Savers’ interest in global equity funds remained strong,” Johanna Englundh, an economist at the association, said in the statement. “They also showed confidence in the domestic market and Swedish funds ended up in second place in terms of net savings in 2021.”

The wealth invested in funds also reached a all-time high, and amounted to almost 7 trillion kronor by the end of 2021.

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