Data from the Norwegian Fund and Asset Management Association, VFF, point to cautious investors making net withdrawals from funds through August, including both retail and institutional investors.
Conflicting signals from global stock markets contributed to the uncertainty felt, VFF notes, with net withdrawals made across all fund categories it tracks.
Retail investors made net sales of NOK800m through the month, with institutional investors withdrawing NOK3,7bn.
Most was withdrawn from equity funds, some NOK700m by retail investors, while institutions took out NOK3.5bn from equity and balanced funds over the period.
Still, on a year-to-date basis, the value of assets in securities funds invested in through the retail market is some NOK256bn, up 12%. Additionally, Norwegians have NOK196bn invested in funds accesssed via self-selection as part of long term savings plans (penjonsmidler med fondsvalg), which also includes the individual pension accounts (IPS).
Foreign investors were also net sellers in August, pulling out some NOK100m, the VFF data suggests.
Total assets in investment funds fell by some NOK2bn to NOK1.259trn, compared to the previous month. In the year so far, total assets have gained some NOK129bn, or 11.5%.