Latest data on monthly net flows in Norway suggest investors put NOK188m into securities funds, helping take total industry AUM to NOK1,159bn (€122.2bn), according to the Norwegian Fund and Asset Management Association (VFF).
In terms of trends among “professional” investors, there was a switch into equity funds out of fixed income, VFF notes. Local institutional investors put a net NOK1.3bn into funds over the month, of which NOK1.2bn went into equity funds on a net basis. They sold out of fixed income funds to the level of NOK2.4bn.
Foreign investors meanwhile bought some NOK0.5bn worth of shares in funds on a net basis.
Retail investors in the country put NOK97m into funds overall. Net withrdawals were seen from equity and balanced funds, but NOK361m was put into various categories of fixed income funds. The value of Norwegian retail investors’ share in securities funds is some NOK230bn (€24.25bn). There was also an additional net NOK888m invested in the country’s pension contracts that allow for funds selection. Most went to equity funds, VFF said, taking assets in this category to some NOK176bn (€18.6bn).
On a year-to-date basis to the end of April, net investments have reached NOK28bn, of which NOK9.8bn have been invested into equity and balanced funds, with NOK17bn put into fixed income funds.