Norwegian retail sales hit NOK3.2bn in May
Norwegian retail investors invested a net NOK3.2bn (€335m) in funds through May, data published by the Norwegian Fund and Asset Management Association (VFF) show.
Of this total some NOK462m went to equity funds, NOK420m went to balanced funds, while NOK2.3bn went to different types of fixed interest funds.
An additional NOK1.6bn (€167m) was saved into pensions, including via life insurance sector provided solutions for the long term savings market as well as directly saved with fund companies and via individual pensions savings (IPS). Of this sum, NOK1.1bn was put into equity funds.
Looking to data for professional investors, VFF said that a net NOK7bn (€734m) was invested, mostly into bond funds and other fixed interest funds. On a net basis, institutional investors have put NOK17bn (€1.78bn) into funds this year so far through the end of May.
With the total May net inflows hitting NOK11.4bn, the assets under management hit NOK1.079trn (€113bn), an increase of some NOK97bn in the year to date. Of this increase, about half constitutes new assets in funds, while the rest represents returns for fund investors.