Figures from the Norwegian Fund and Asset Management Association, VFF, suggest that about half of net new flows through August in the local market went into equity funds.
Overall net sales through the month hit NOK3.5bn (€430m), with Norwegian institutions accounting for some NOK2.1bn of that figure.
Foreign investors put a net NOK0.8bn into local funds, while pension related savings were NOK0.7bn.
However, retail investors were less attracted to equity funds, withdrawing a net NOK173m, and instead putting net savings of NOK154m into balanced funds, with negligible amounts on a net basis going into different types of fixed income funds, VFF said
August was notable for breaking a trend, as it became the first month this year in which investments into equity funds outpaced fixed income funds. However, VFF said that it was too soon to tell if it marked the start of a period in which equity funds would have the wind in their sails again.
Total assets in Norwegian funds covered by the VFF data was reported as NOK838bn (€103bn).