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Published: 2 March 2022

Nearly every third person owned listed shares or mutual funds in 2020

Approximately 1.7 million persons owned mutual funds or shares listed in Finland in 2020. Around 31 per cent of the dwelling population were owners. The number of owners grew by 107,600 from the year before, while in 2014 to 2019 the number of owners grew by an average of 42,400 persons per year. The increase in the number of owners is explained in particular by the introduction of equity savings accounts. These data appear from Statistics Finland's statistics on households' assets, where register-based data on listed shares and mutual assets are published for the first time as a separate release.

Number of persons owning listed shares, mutual funds or both in 2009 to 2020

Number of persons owning listed shares, mutual funds or both in 2009 to 2020

In 2020, the number of investors in listed shares grew by 86,700 from the previous year, or by nearly 13 per cent. Around one-half of the growth in the number came from owners of equity savings accounts who did not have any listed share assets in 2019. In 2020, the number of investors in listed shares was clearly higher than in 2009 to 2019, when their number remained relatively stable.

In 2020, the number of persons owning mutual funds increased by a total of 82,600 persons from the previous year, or by 6.6 per cent.

In 2020, mutual funds were owned by over 1.3 million persons (25% of the dwelling population) and listed shares by 771,000 persons (14% of the dwelling population). Of those owning listed shares, 46,000 administered their holdings only through an equity savings account. Eighty-five per cent of these persons had no listed share assets in the previous year. All in all, 94,000 persons owned an equity savings account which had assets.

Fifty per cent of those investing in mutual funds were women and the share of women investing in listed shares was 40 per cent. The median for the investment assets of women that owned listed shares and mutual funds was EUR 5,100 and that of men EUR 6,100. The median for listed shares was EUR 6,700 for men with shares and EUR 5,700 for women with shares. The median for mutual fund assets was EUR 4,000 for both men and women who owned mutual funds.

Further information about the compilation of statistics

Statistics Finland now publishes for the first time completely register-based data on assets by age and gender group as a separate publication. The data of the publication are available in a database table . The accompanying reviews describe in more detail listed share and mutual fund assets by population group.

The population of the statistics is the dwelling population, which includes persons permanently living in actual dwellings at the end of the year. As a result of the definition, not all Finnish owners of listed shares and mutual funds are included in these statistics. For example, persons living abroad and permanently in old people's homes are excluded from the statistics.

The register sources of the wealth survey provide information on shares listed on the Helsinki Stock Exchange, domestic mutual funds and foreign collective investment schemes. Only persons who have assets in an equity savings account or a book-entry account are taken into account in the statistics.

Only direct individual holdings are included in listed shares and mutual fund investments in book-entry accounts. For this reason, ownerships through investment companies and savings and investment policies are not included in the statistics. Shares listed on foreign exchanges are excluded from the statistics.

Source: Households' assets

Inquiries: Ossi Kohvakka 029 551 3534, Samuel Ikonen 029 551 3086,

Head of Department in charge: Hannele Orjala


Tables in databases

Updated 2.3.2022

Referencing instructions:

Official Statistics of Finland (OSF): Households' assets [e-publication].
ISSN=2242-3230. 2020. Helsinki: Statistics Finland [referred: 26.11.2022].
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