Norwegians switch out of bonds into equities
Data published by the Norwegian Fund and Asset Management Association (VFF) suggests that individual investors were net investors in equity funds through February, but sold out of balanced and fixed income funds.
Total net sales to indiviudal retail customers of equity funds hit NOK185m (€19.6m), but net withdrawals hit NOK267m (€28.4m) for balanced funds and NOK530m (€56.4m) for fixed income funds.
The situation was signficantly different for domestic institutional investors. Total investments through the month were NOK4.9bn (€521m), of which NOK2.4bn (€255m) went into equity funds and NOK2.5bn (€266m) into fixed income funds. There were net sales of balanced funds of NOK159m (€17m).
Foreign investors continued to sell out of Norwegian funds through the month, with a further net NOK728m (€77.5m) withdrawn.