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|
|DNB Asset Management||3,285,452||202,007,492||83|
|First Asset Management||218,106||2,845,514||10|
|Holberg Fondsforvaltning AS||230,793||21,305,943||15|