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Benedicte Gravrand, Opalesque Geneva:

Tell Media Group (Sweden) created a report called Nordic Fund Industry Outlook 2011 from a survey conducted late last year of 84 respondents from seven European countries, the majority of whom from Sweden.

The Nordic region, for its strong fundamentals and stability, is regarded as a bit of a haven by some in the financial world. Nordic bank SEB recently issued a positive forecast for the Swedish economy, saying that GDP would grow by 5% in 2010 and then by 3.5% in 2011 and 2.5% in 2012, and a positive outlook for the other Nordic countries and the Baltic countries, with GDP growth close to trend.

In unison with the rest of the global financial community, most respondents in the Tell Media survey expect 2011 to be better than 2010 (84%).

According to the survey, most of the fund companies foresee net inflows in 2011 (96%); three quarters see the introduction of UCITS IV mainly as an opportunity (72%); and more than half say the main growth driver in 2011 will be new client segments (60%).

Among investors, two thirds will increase the share of assets managed externally (69%); 21% will increase their allocation to equities; 23% will increase their allocation to real estate in 2011; and 29% will decrease their......................

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