July fund sales hit NOK15bn in Norway
Net sales of funds in Norway hit NOK15bn (€1.8bn) in July, according to figures from VFF, the Norwegian Fund and Asset Management Association.
Fixed income accounted for the majority of the sales.
Norwegian institutions accounted for some NOK11.8bn of the overall sales, with a clear focus on fixed income funds that drew some NOK10.2bn in net new money from this investor base.
Foreign investors put in NOK2bn, of which some NOK1.1bn went into equity funds and 0.9bn into fixed income.
Retail investors invested NOK0.5bn, mostly into fixed income funds.
The additional net savings took overall assets in Norwegian funds to NOK835bn (€101.5bn)
Lasse Ruud (pictured), chief executive, said the trend clearly was for new investments heading to fixed income funds.
“Strong interest in different types of fixed income funds and limited interest in putting new money into equity funds has been a clear trend in recent years,” he said.