Norwegian net sales hit NOK7.5bn in July

Net sales of investment funds in Norway hit NOK7.5bn (€804m) in July, chiefly driven by institutional investor demand for fixed income funds, data from the Norwegian Fund and Asset Management Association (VFF) show.

Retail investments hit a net NOK1.2bn (€128m), of which some NOK530m went to equity and balanced funds, and some NOK620m went to fixed income funds.

Institutions added NOK6bn (€643m) of net investments through the month, of which NOK1.3bn went to equity funds and NOK4.7bn to fixed income funds on a net basis.

However, foreign investors continued to withdraw from Norwegian securities funds, selling off a net NOK600m (€64m) through the month.

An additional NOK907m was invested by Norwegians into personal long term savings plans – pensjonsmidler med fondsvalg – which includes both life insurance and individual pensions savings that offer self-selection choices. Most of the related net investments made this way went to equity funds.

The monthly net flows contributed to increasing total industry assets to NOK1,086bn (€116.5bn), which is an increase of NOK104bn (€11.1bn) or 11% since the start of 2017. Of this increase, some NOK60bn comes from new investments, while the remainder constitutes returns, VFF said.

Jonathan Boyd
Editorial Director of Open Door Media Publishing Ltd, and Editor of InvestmentEurope. Jonathan has over two decades of media experience in Japan, Australia, Canada and the UK. Over the past 17 years he has been based in London writing about funds and investments. From editing the newsletter of the Swedish Chamber of Commerce in Japan in the 1990s he now focuses on Nordic markets for InvestmentEurope. Jonathan was awarded Editor of the Year at the Professional Publishers Association (PPA) Independent Publisher Awards 2017. Shortlisted for the same in 2016, he was also shortlisted in 2017 and 2015 for the broader PPA Awards category Editor of the Year (Business Media).

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