The National Bank of Denmark published data on Danish households’ investments showing a continued rotation from bond funds into equity funds since 2024, with the trend gaining momentum from May 2025. Over the same period, households have also reduced their direct holdings of both stocks and bonds. Households purchased shares in Danish and foreign equity funds worth DKK 25.5 billion since 2024 and sold shares in bond funds worth DKK 14.6 billion, while buying DKK 7.5 billion in mixed funds. Outside of funds, households sold DKK 8 billion in stocks and DKK 5 billion in bonds. Total household investment in Danish and foreign investment funds stands at DKK 570 billion, including DKK 470 billion in Danish funds; within stock investments via Danish funds (DKK 267 billion), more than half is invested in American stocks and 10% in Danish stocks, while directly held stocks total DKK 485 billion with 66% invested in Danish stocks.
National Bank of Denmark 2025-09-29
National Bank of Denmark data show households buying DKK 25.5bn of equity funds since 2024 and holding most foreign stocks via Danish funds
The National Bank of Denmark reports a shift in Danish households' investments from bond funds to equity funds since 2024, accelerating from May 2025. Households have purchased DKK 25.5 billion in equity funds and sold DKK 14.6 billion in bond funds, while reducing direct stock and bond holdings by DKK 8 billion and DKK 5 billion, respectively. Total household investment in funds is DKK 570 billion, with significant allocations to American and Danish stocks.