January net fund sales hit seven-year high in Norway
The Norwegian Fund and Asset Management Association has reported January net sales of funds hit NOK21.1bn, the highest monthly total since December 2005.
Of the total some NOK3.5bn went to equity and balanced funds. NOK17.5bn went to different types of fixed income funds – of which NOK8.8bn was reinvested returns (such as coupons), which typically pay out on fixed income funds in December in Norway for tax purposes.
Net investments by Norwegian institutional investors hit NOK16bn, retail investors NOK3.4bn, and foreign investors NOK1.7bn.
The Association said that the investments in different fixed income funds reflected the trend seen through the past year.
However, it is the volume that has changed significantly: the NOK21.1bn monthly total is equivalent to half the total net invested through all of 2012, the Association said.