Kundrörlighet på fondmarknaden

Customer mobility is important to ensure competitive markets. According to the Swedish Competition Authority (SCA), customer mobility on the Swedish private fund savings market might be too low. This study investigates customer mobility in the Swedish private fund savings market.

A number of indicators of customer mobility are compared across different groups of consumers. The results indicate that customer mobility varies over different groups of consumers.

The main conclusions of our study are

• Individuals who have a private fund saving at a large bank are less mobile than other consumers.
• Individuals with less interest in, or knowledge of, funds and financial markets, are also less mobile.
• Individuals who complement with other forms of savings, e.g. stocks, are more mobile
• Individuals saving in an investment savings account are more mobile
• Large bank customers, who constitutes the majority of private customers on the Swedish fund market, have highest willingness to pay for an established fund managed by a large bank

As a result, newly established funds might face problems when competing for large bank customers. These represent the bulk of consumers, indicating that newly established fund companies might lack a sufficient customer base to be able to exercise an efficient competitive pressure on the market.

The study is commissioned by the Swedish Competition Authority

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