Monthly net inflow of NOK5.5bn (€570m) helped total assets increase in local funds increase by some NOK20bn (€2.1bn) to an industry total of NOK1.177trn (€121.1bn) by the end of July, according to the Norwegian Fund and Asset Management Association (VFF).
Norwegian retail investors added some NOK261m on a net basis through July, of which NOK143m went to equity and balanced funds, with NOK112m going to various fixed income funds.
Additionally, some NOK1.7bn went to retirement savings that allow for fund selection, according to data on pensions, life insurance with fund selection and individual pension savings accounts.
Institutions contributed to net inflows of some NOK2.8bn (€290m), of which NOK0.5bn went to equity funds and NOK2.5bn went to different fixed income funds.
Foreign investors were net buyers of Norwegian funds to the tune of NOK0.7bn.