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Swedish savers shift from US assets in 2025

Economy & businessEconomy
Key Points
  • Swedish small savers are shifting from US-heavy funds to Swedish and European funds in 2025.
  • Nordic pension funds like Alecta and AkademikerPension are selling US Treasuries due to increased risk.
  • In February, Swedish fund flows favored domestic and European funds, with 60% going to Swedish funds.

Nordic pension funds are also selling US Treasuries. Swedish pension fund Alecta has sold most of its US bond holdings because risk associated with US Treasuries and the dollar had increased, according to research. 8 billion), research shows.

Danish pension fund AkademikerPension said it was selling its US Treasuries because of 'the poor health of US public finances', according to research. Danish pension fund PBU is also selling US government bonds, research indicates. About 50% of Russell Investments' Northern European clients are considering tilting away from US assets, research shows.

I think everyone needs to take a deep breath. Do not listen to the media who are hysterical.

Scott Bessent, US Treasury Secretary

The value of US Treasuries held by Dutch pension fund ABP dropped steeply from the end of 2024 to September 2025, likely driven by a reduction in holdings. The US dollar fell 10% against major currencies in 2025 amid tariff hikes and other policies. 9%, near levels reached during the global financial crisis.

US Treasury Secretary Scott Bessent rejected the notion that Europeans were targeting US debt in retaliation for Washington's designs on Greenland, calling it a 'completely false narrative'. In February, Swedish fund savers sold precious metals after a crash, while European funds increased in popularity, according to research. Net purchases are largest in Swedish funds, emerging market funds, and European funds.

Well, they shouldn't be doing it, but I've left notification if anything ever happens, we're gonna blow the hell—the whole country's gonna get blown up.

Donald Trump, President of the United States

60% of fund savings went to Swedish funds in February. The Stockholm Stock Exchange's large-cap index has performed strongly since the turn of the year, but concentration is high; half of the companies on the broad Stockholm Stock Exchange have fallen during the same period, research shows. In 2024, around 75% of Avanza's fund savings were US-heavy and focused on North America, technology and global funds; this changed drastically in 2025.

Savings in global funds fell from 52% to 18% and US and technology funds were sold off; instead, savers bought Swedish funds, European funds and fixed-income funds. So far in 2025, technology and North American funds have accounted for 38% and 30% of net sales at Avanza, respectively, although interest in global funds has increased slightly again; over 50% of savings go to Swedish funds. 4% for European funds, research shows.

The U.S. has tried every conceivable hostile act against Iran, from sanctions and cyber assaults to outright military attack—and, most recently, it clearly fanned a major terrorist operation—all of which failed. It is time to think differently. Try respect, which will allow us to advance farther than one may believe.

Abbas Araghchi, Iranian Foreign Minister

About 5,000 Swedes have been affected by investment fraud in 2025, losing a total of half a billion kronor to fraudsters, according to research. Fraudsters use refined methods with the latest AI technology, operate from other countries, and exclusively target stocks traded abroad. In other news, Russia will cancel large parts of the planned Victory Day celebrations in Crimea due to the threat from Ukrainian drones, research shows.

Ukrainian intelligence agents attacked Russian military trains used to transport equipment and fuel in temporarily occupied Crimea, according to research. The Swedish government decided on an electricity subsidy to support households due to increased energy costs, research shows. 5 kronor per kilowatt-hour on Nordpool, close to winter peak prices.

I am very protective of people that already own a house, of which we have millions and millions and millions. And because we have had such a good run, the house values have gone up tremendously, and these people have become wealthy. They weren't wealthy. They've become wealthy because of their house, and every time you make it more and more and more affordable for somebody to buy a house cheaply, you're actually hurting the value of those houses obviously, because one thing works in tandem with the other.

Donald Trump, President of the United States

President Donald Trump said he could crush the housing market if he wanted to by making it easier to buy homes, according to research. Iranian Foreign Minister Abbas Araghchi warned that Iran would respond to any attack from the US 'with everything we have', according to research. More than 3,900 people were killed and 24,000 arrested in the violent crackdown on protesters in Iran, according to the US-based Human Rights Activists News Agency.

The Swedish government decided on July 28, 2016 to appoint a special investigator to map the crowdfunding market and analyze applicable regulations. The investigation was led by former Justice of the Supreme Court Severin Blomstrand and submitted its report in February 2018.

Now if I want to really crush the housing market, I could do that so fast and people could buy houses. But you would destroy a lot of people that already have houses. In some cases, they've mortgaged their house and the mortgage would be very low, and all of a sudden the mortgage without any changes becomes very high and they end up losing t

Donald Trump, President of the United States
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Swedish savers shift from US assets in 2025 | Reed News