January 'comeback' for fund flows in Norway
Data published by the Norwegian Fund and Asset Management Association, VFF, points to a reversal of the outlows seen torwards the end of 2018, with net inflows seen from both retail and institutional investors in the country through January.
Some NOK1.2bn (€123m) of net inflows came from retail investors, of which NOK0.4bn went to equity and balanced funds, and NOK0.8bn went to different types of fixed income funds.
A further net inflow of NOK2.6bn (€266m) was experienced through the country's pension savings that allow fund selection, as well as the individual savings account regime, IPS. Of the pensions related inflows, some NOK0.9bn went to equity funds and NOK1.7bn went to fixed income funds.
Institutions were also net buyers to the tune of NOK3.8bn (€390m). Of this, some NOK2.9bn went to equity funds, and NOK1bn went to fixed income funds.
Foreign investors were net buyers through January, putting NOK0.2bn and NOK0.8bn respectively into local equity and fixed income funds.
Across all investor groups, net inflows hit NOK8.7bn (€893m) through the month. This is the highest since February 2018. Broken down by asset class, this represented some NOK4.3bn into equity funds, NOK0.1bn into balanced funds, NOK1.7bn into bond funds, although net sales for money market funds hit NOK70m, while 'other fixed income' funds saw net inflows of NOK2.7bn.
Total industry assets in Norwegian securities funds hit NOK1,162bn (€119bn), or an increase of 3% - NOK33bn - from the end of December.
VFF CEO Bernt Zakariassen noted that fund investors saw an opportunity to buy again following the volatility experienced on stock markets globally and a weak December.
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