Norwegian retail investors kept increasing their net savings in equity and balanced funds through October, despite the stock market falls experienced, according to figures published by the Norwegian Fund and Asset Management Association (VFF).
Net savings of some NOK325m (€38m) were made by retail investors in equity funds, and some NOK373m (€44m) in balanced funds. This made October the month with the biggest net savings in these two types of funds so far this year, the Association said.
Norwegian institutional investors put a net NOK1.7bn (€201m) into equity and balanced funds, while those selecting funds for their retirement savings put a net NOK1.2bn into the funds. Foreign investors put NOK4.3bn (€507m) into the funds on a net basis through the month.
“This shows that most Norwegians have understood that they should not sell shares when stocks are falling,” said Lasse Ruud, managing director of VFF.