In fact, when including the privatized part of the government pension fund system, 100% of working Swedes have some part of their savings in a mutual fund.
But even excluding that, the proportion tops out at about 80%, almost double the share among U.S. households.
Forward-looking political decisions that subsidized and embedded funds in the pension system, financial sophistication of households and not the least a surge in stock markets over the past decades have made funds a part of everybody’s life, according to the study. The foundation for saving in funds was laid in the 1980s, when the government subsidized mutual fund savings through the so-called Allemansfonder program, according to Johanna Kull, a savings adviser at Avanza.And the introduction of the programs also came at a good time, with a long equity market rally poised to commence in the early 1990s.
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