Oslo stock market gain helps boost local fund AUM
The rise in the Oslo stock market through October helped AUM in local funds gain some NOK18bn (€2.2bn), according to the Norwegian Fund and Asset Management Association (VFF).
VFF said that net sales of funds hit NOK3.1bn (€377m) through the month, with institutional investors accounting for some NOK1.7bn of that.
Norwegian retail investors bought just NOK170m of funds on a net basis through the month.
By asset class it was equity funds that gained the most. Together with balanced funds they accounted for about 70% or NOK2.2bn of the total NOK3.1bn in net sales over the period.
Retail investors added NOK280m on a net basis in equity and balanced funds, but withdrew NOK110m from bond and other funds.
Because of the performance of the local stock market, total AUM hit NOK652bn (79.3bn) in the funds represented by VFF’s data. This represents a gain of some 17% or NOK95bn since the start of the year.