Net sales of NOK1.1bn in Norway through September
Net sales of securities funds hit NOK1.1bn through September, taking total assets represented by the Norwegian fund industry to NOK885bn (€96bn) – this excludes the Norwegian sovereign wealth fund, which is NOK6.9trn (€750bn) in size.
Data from VFF, the Norwegian Fund and Asset Management Association, suggests Norwegian retail investors put a net NOK53.5bn into equity and balance funds through the mongh, but sold bond and other funds, resulting in an overall net withdrawal of some NOK400m.
Institutional investors put some NOK1.9bn into funds on a net basis, with NOK680bn going into equity funds, and NOK1.89bn into bond funds. However, they withdrew NOK744m from balanced funds on a net basis.
Foreign investors continued to sell out of Norwegian funds, VFF said, with a net NOk2.1bn withdrawn, consisting of some NOK1.55bn from equity funds and NOK607m from fixed income funds.