July draws Norwegian investors to funds
July was a good month for fund providers in Norway, where retail investors put a net NOK200m (€21.5m) into securities funds, helping take total industry net sales to NOK6.5bn (€700.2m)
Equity and balanced funds took in NOK217m on a net basis, although NOK19m was withdrawn from fixed income funds. So far this year, retail investors have invested NOK1.6bn on a net basis.
Interestingly, institutions were even more keen to purchase funds through the month. And unlike local retail investors, they put most of their money into fixed income funds, as total investments hit NOK6.4bn.
Foreign investors withdrew NOK1bn on a net basis from their Norwegian fund holdings.
So far this year, total industry assets have increased some 5% to NOK950bn (€102.3bn)