Rise in pensions savings via funds in Norway
Norwegians put away an additional NOK2bn (€213m) into their pension savings via funds over the past month.
Data from the Norwegian Fund and Asset Management Association (VFF) points to the increase, which affects customers of life insurance companies as well as those saving directly via fund companies or through individual pension savings.
In the year to the end of May, Norwegian net savings for this segment of the market have hit NOK7.8bn, of which NOK2.8bn have been placed into euqity funds, NOK4.4bn into fixed income funds, and NOK460m into balanced funds, VFF said. Since the start of its data gathering for this segment of the market in 2013, total assets have increased from NOK57bn to NOK113bn.
Besides pension savings, the retail investor market has seen net savings of some NOK0.5bn year-to-date. Institutional investors increased their investments in funds by NOK2.4bn in May, taking total institutional assets to some NOK541bn.
Flows to funds from foreign investors were a net NOK200m through the past month, which becase the first since September 2014 to record positive net flows from this segment of the market.
By the end of May, investments in Norwegian securities funds totalled NOK930bn (€99.5bn), the highest recorded, VFF added.