Fixed income dominates April net sales in Norway – VFF

The Norwegian Fund and Asset Management Association reports that fixed income dominated net sales of funds through April, taking in NOK6.9bn and helping total industry assets hit NOK776.9bn (€95.4bn).

Total net sales across all asset classes was NOK6.7bn, as investors withdrew NOK0.2bn on a net redemption basis from equity and balanced funds.

Institutional sales accounted for some NOK5.8bn of the overall NOK6.9bn in net sales by fixed income funds. Institutional net sales across all asset classes was NOK5.7bn, as net redemptions of NOK0.1bn hit equity and balanced funds.

VFF, the Association, defines Norwegian institutional investors as those which do not have a so-called Norwegian personal identity number. Typically, this would be insurance companies, pension funds, municipalities, foundations or public limited companies.

Norwegian retail investors put net savings of NOK0.4bn into fixed income funds, but overall made no change to the amounts they put into equity and balanced funds.

Lasse Ruud, managing director of the Association, said: “If we look at the total amount saved, then fixed income funds dominate. This is a trend we have seen for a while.”

DNB Asset Management remains the biggest manager in the Norwegian market, according to VFF’s latest monthly net sales figures, by AUM and number of funds available.

VFF members Net sales (April – NOKm) AUM (NOKm) Number of funds
Alfred Berg Kapitalforvaltning 117,245 26,974,164 64
Borea Asset Management 7,000 482,290 2
Carnegie Kapitalforvaltning 267,498 5,627,578 21
Danske Capital 834,455 43,055,268 38
DNB Asset Management 3,285,452 202,007,492 83
Eika Kapitalforvaltning 53,668 8,584,772 13
First Asset Management 218,106 2,845,514 10
Fondsfinans Kapitalforvaltning 297,750 3,041,408 6
Fondsforvaltning 832,409 5,912,468 12
Forte Fondsforvaltning 119,097 970,887 6
Handelsbanken Kap.forvaltning 148,511 10,678,722 48
Holberg Fondsforvaltning AS 230,793 21,305,943 15
KLP Fondsforvaltning -283,168 102,751,691 33
Landkreditt Forvaltning 76,519 2,841,735 6
Nordea Fondene 494,988 74,006,482 85
ODIN Forvaltning -264,210 33,051,921 26
Pareto Forvaltning 271,400 27,997,618 12
SEB 877 134,628 27
SKAGEN -735,193 122,364,007 16
Storebrand Fondene 712,556 82,278,730 40
Total 6,685,753 776,913,318 563
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