Latest figures published by the Norwegian Fund and Asset Management Association (VFF) point to strong net sales of equity funds in the local market through October.
Norwegian funds saw net sales of NOK5.4bn (€596m) through the month,of which NOK3.7bn were accounted for by equity funds, against just NOK0.1bn into balanced funds and NOK1.6bn into fixed income. Total assets increased by NOK9.8bn (€1bn) over the month to NOK960bn (€106bn) meaning assets have increased through the year to date by 6.1%.
Of the total net sales, retail investors accounted for NOK0.5bn across all categories, although within this overall retail figure there were net investments of NOK634m into equity funds.
By contrast, retail investors were net sellers of fixed income funds to the tune of NOK108m.
The split between equity and fixed income funds was reflected in net sales of pension savings, with NOK775m into equity funds and NOK482m into fixed income funds.
Describing the year as one of two halves, with a shift towards equity in the second half at least as far as retail investors are concenerned, VFF’s data also points, however, to continued net sales weighted towards fixed income in the institutional space.
There net sales hit NOK2.2bn in October, of which NOK1.4bn went to fixed income funds.
Foreign investors continued to return to the Norwegian market, VFF also notes: over the last month this group invested NOK1.4bn on a net basis, mostly into equity funds.
So far this year, net investments into Norwegian securities funds have totalled NOK46bn (€5.1bn)