Norwegian net fund sales hit NOK30bn in H1
Equity fund outflows failed to stem the overall level of net sales hitting NOK30bn (€3.38bn) in the first half of 2015, taking total Norwegian investment fund assets to NOK901bn (€101.5bn), reports the Norwegian Fund and Asset Management Association (VFF).
Norwegian retail investors invested NOK8.6bn on a net basis through the period. Investments in equity and balanced funds were particularly noteable from this investor group, VFF said.
Some NOK6bn went into balanced funds, with some NOK1.7bn into equity funds. Norwegian retail investors have NOK171bn invested in Norwegian securities funds, the Association said.
In terms of institutional investors, VFF reported that NOK32.2bn was invested in the first half of the year. Of this, NOK20bn went into bond funds. Of the total NOK533bn invested in funds by this group, some NOK187bn are invested in equity funds, and NOK218bn in bond funds.
However, foreign investors were net sellers of funds in Norway, withdrawing NOK13bn (€1.5bn) over the first six months of the year, leaving total assets invested of some NOK100bn.