H1 inflows see Norwegian industry assets pass NOK1trn

Strong net inflows helped the Norwegian fund and asset management industry AUM to rise 10% to NOK1.08trn (€116.2bn) during the first half of 2017, figures from the Norwegian Fund and Asset Management Association (VFF) show.

Retail investors saved a net NOK16bn over the period, of which NOK11.4bn went to fixed income funds, with NOK4.8bn going to equity and balanced funds. However, Norwegian long term savers also added a net NOK18bn in assets via the pension system that allows selection of funds. There some NOK12bn went to equity funds. VFF expects net inflows to funds linked to long term savings to increase following the introduction of a the aksjesparekonto, a type of savings account, along with changes to regulations surrounding pensions savings later this year.

1) Ny inndeling av fondsstatistikken fra 2013 gjør at midler som tidligere gikk inn i personstatistikken, er omdefinert til «pensjonsmidler med fondsvalg».

Source: VFF; net investments by retail investors, shown in NOKbn

Institutional investors added NOK20bn on a net basis in the first half. Of this, NOK7bn went into equity funds, with 12bn going into fixed income funds.

In contrast, foreign investors sold out of Norwegian securities funds, with a net outflow of NOK2.2bn seen since the start of 2017, VFF’s data suggests.

Taken together, the overall figures mean that net investments into securities funds in the country hit NOK51.8bn (€5.6bn) in the first half. Total assets have grown by some NOK98.3bn (€10.6bn), of which NOK42.9bn constitute new savings, and NOK55.5bn returns from funds already invested.

Forvaltningskapital fordelt på fondsgrupper:  

The data shows that equity funds (aksjefond) still account for over half of industry assets.

The VFF data do not include figures for Norway’s sovereign wealth fund, the Pension Fund Global, which reported a market value of its assets as NOK7.867trn (€846bn) at the end of the first quarter of 2017.

Jonathan Boyd
Editorial Director of Open Door Media Publishing Ltd, and Editor of InvestmentEurope. Jonathan has over two decades of media experience in Japan, Australia, Canada and the UK. Over the past 17 years he has been based in London writing about funds and investments. From editing the newsletter of the Swedish Chamber of Commerce in Japan in the 1990s he now focuses on Nordic markets for InvestmentEurope. Jonathan was awarded Editor of the Year at the Professional Publishers Association (PPA) Independent Publisher Awards 2017. Shortlisted for the same in 2016, he was also shortlisted in 2017 and 2015 for the broader PPA Awards category Editor of the Year (Business Media).

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