Volatility fails to dent net sales in Norway

Data from the Norwegian Fund and Asset Management Association (VFF) shows that investors were still net buyers of funds in the market through January, despite the high level of volatility on markets globally.

Net sales in Norway hit NOK11.9bn (€1.23bn) through the month, mostly as a result of institutional buyers, who accounted for net sales of NOK9.8bn. Of this some NOK6.7bn went to equity funds, NOK3.7bn to fixed income funds, but balanced funds saw net redemptions of NOK474m.

However, there was still a marginal level of net sales to retail investors in January; NOK153m (€15.8m). Fixed income funds attracted a net NOK746m, although equity funds saw redemptions of NOK1.9m while NOK637 went out of balanced funds.

Bernt Zakariassen, VFF CEO, said: “Norwegians are behaving admirably calmly and professionally in uncertain times. Most have understood that it is precisely by engaging through these market swings that one can expect over time to achieve real returns on invesments.”

Foreign investors redeemed NOK750m of assets on a net basis, leaving them with total assets invested in Norwegian funds of some NOK94.4bn (€9.8bn). The total assets of Norwegian securities funds ended January on the figure of NOK871bn (€90bn), a drop of some NOK33bn from the previous month, VFF noted.

 

ABOUT THE AUTHOR
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 16 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.

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