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 membersNet sales (April – NOKm)AUM (NOKm)Number of funds
Alfred Berg Kapitalforvaltning117,24526,974,16464
Borea Asset Management7,000482,2902
Carnegie Kapitalforvaltning267,4985,627,57821
Danske Capital834,45543,055,26838
DNB Asset Management3,285,452202,007,49283
Eika Kapitalforvaltning53,6688,584,77213
First Asset Management218,1062,845,51410
Fondsfinans Kapitalforvaltning297,7503,041,4086
Fondsforvaltning832,4095,912,46812
Forte Fondsforvaltning119,097970,8876
Handelsbanken Kap.forvaltning148,51110,678,72248
Holberg Fondsforvaltning AS230,79321,305,94315
KLP Fondsforvaltning-283,168102,751,69133
Landkreditt Forvaltning76,5192,841,7356
Nordea Fondene494,98874,006,48285
ODIN Forvaltning-264,21033,051,92126
Pareto Forvaltning271,40027,997,61812
SEB877134,62827
SKAGEN-735,193122,364,00716
Storebrand Fondene712,55682,278,73040
Total6,685,753776,913,318563
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