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179603
Mutual funds with record profit
statistikk
2014-09-11T10:00:00.000Z
Banking and financial markets
en
vpfond, Mutual funds, mutual fund shares capital, profit and loss account, balance sheet, stocksSecurities markets , Banking and financial markets
false
The statistics gives an overview of the Norwegian mutual funds, with a focus on share capital, transactions and mutual funds’ assets.

Mutual funds, 2013

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Mutual funds with record profit

Mutual funds’ net profit has shown a sharp increase for the second consecutive year, and was at a historically high level in 2013. Net profit was NOK - 35 billion in 2011, compared to NOK 44.3 and 97.9 billion in 2012 and 2013 respectively. This is primarily due to all realised and unrealised capital gains.

Main figures - Mutual funds. NOK MillionPublished 11 September 2014
2013
TOTAL ASSETS729 322
Share capital at nominal value456 322
PROFIT/LOSSES97 868
Number of unit trusts398

Source: Statistics Norway

In 2013, Norwegian funds achieved their highest total annual profit ever. Net profit amounted to NOK 97.9 billion after tax. As in several previous years, equity funds accounted for the largest share of this result, with NOK 86.2 billion. The result for 2013 can mainly be attributed to a sharp increase in the net value of realised and unrealised capital gains, which increased from NOK 31.1 billion in 2012 to NOK 84.2 billion in 2013.

In 2013, management fees, which is a cost item for the funds, amounted to NOK 5.4 billion. This is about 40 per cent more than in 2012 when the management fee was NOK 3.9 billion.

Strong growth in assets

Mutual fund’s total assets rose in 2013 by 19.8 per cent and amounted to NOK 729.3 billion at the end of the year. Much of this increase is due to an increase in financial assets, with equities and bonds accounting for NOK 83 billion and NOK 25.8 billion of growth respectively.

Funds had placed NOK 102.7 billion in Norwegian and foreign mutual fund shares at the end of 2013. This is an increase of NOK 25.8 billion. On the other hand, the funds’ holdings of certificates decreased by NOK 14.6 billion in the same period, giving a total of NOK 23 billion at the end of 2013.

Continued growth in the share capital

Share capital in the Norwegian securities increased by NOK 118.8 billion, or 19.6 per cent from 2012 and accounted for NOK 724.4 billion at the end of 2013. The increase in share capital is primarily due to an increase in retained earnings, which increased from NOK 119 billion at the end of 2012 to NOK 205.5 billion at the end of 2013. The sharp rise in the share capital is due to a combination of high net purchases of shares and a strong appreciation in the funds’ portfolios.