Norwegian investors have for a sixth month in a row invested on a net basis in equity and balanced funds, data from the Norwegian Fund and Asset Management Association (VFF) suggest.
May saw net investments in securities funds of some NOK0.5bn. Norwegian retail investors added NOK476m on a net basis, however, net investments were higher into equity and balanced funds – NOK700m – while they redeemed some NOK253m of fixed income funds.
Institutional investors, such as insurance companies, pension funds, municipalities, foundations and companies, invested NOK4bn on a net basis.
Over the same month, foreign investors redeemed NOK483m.
Total assets in the local fund industry now sit at some NOK920bn (€105bn). Overall, May was the sixth month in a row of net investments into equity and balanced funds by retail investors. Over the year so far they have invested NOK6.7bn (€760m).