While net outflows hit the Swedish and Finnish fund markets through September, Norway recorded another month of net inflows at both the retail and institutional levels, data from the Norwegian Fund and Asset Management Association (VFF) reveals.
Retail investors added a net NOK37m (€3.9m) through the month – outflows of some NOK401m (€42.5m) hit equity and balanced funds, but they bought into fixed income funds for some NOK438m (€46.4m).
Institutional purchases of funds were worth a net NOK2.5bn (€265m) – made up of some NOK406m (€43m) into equity funds and about NOK2bn (€212m) into fixed income funds. Insitutional investors have put a net NOK25bn (€2.65bn) into securities funds so far this year, taking total assets in this sector to some NOK655bn (€69.5bn).
Another NOK1.3bn (€137.8bn) was invested via pension schemes that facilitate self selection, life insurance, as well as the the individual pension savings (IPS) regime. Some NOK1.7bn went to equity funds this way, while fixed income funds saw net withdrawals of some NOK400m. Total assets invested in this part of the industry are some NOK193bn (€20.5bn).
An additional net NOK44m (€4.6m) was invested by international investors in Norwegian funds.
Total investments into funds by all types of investors have hit NOK35bn (€3.7bn) so far this year, while total assets have increased by some NOK58bn (€6.1bn) or 5.1%.
Ranked by assets under management, DNB Asset Management has some 26.74% of the local market, KLP has 17.75%, and Nordea Funds has 11.31%.