Norway’s August flows: a bit in, a bit out
Data from the Norwegian Fund and Asset Management Association (Verdipapirfondenes forening) suggests that while fund flow activity overall was low in August, the industry still ended the month with a new record high AUM of NOK623.8bn (€79bn).
An additional net NOK155m (€20m) flowed into funds through the month, including both institutional and retail flows.
Norwegian institutions invested a net NOK540m, while local long term savers added another net NOK380m.
However, retail and foreign investors withdrew net sums of NOK221m and NOK542m respectively through the period, VFF said.
Across all investor types there was a net withdrawal noted from equity funds, but net flows into fixed income funds.
The data shows that overall assets under management represented by the Association increased by NOK3.5bn (€445m) to a new record high of NOK623.8bn (€79bn).