Norway fund industry hits new highs over past year – VFF
The Norwegian Fund and Asset Management Association, VFF, has published data suggesting 2013 was the best ever year in terms of total AUM hitting NOK663bn (€80.1bn) across the local industry.
Fund investors saw the value of their holdings increase by some NOK106bn (€12.8bn).
Of this the majority, NOK89.5bn, came as the result of return on existing investments, with some NOK16.8bn in additional net sales through the year.
Retail investors increased their net investments by some NOK3.3bn, with NOK2.2bn going toward equity and balanced funds, and NOK1.1bn going toward other types of funds, VFF said.
Norwegian institutional investors made net investments of NOL11.8bn, while foreign investors increaed their net by some NOK3.7bn.
2013 was a good year for fund investors, said Lasse Ruud, managing director of VFF. “Norwegians now have NOK50bn more in equity and balanced funds than they did before the financial crisis. Thsi increase has come through net savings of NOK13.5bn from the the end of 2007 through to the end of 2013, while returns make up NOK36.5bn.”