Mutual funds, 2001

The reduction of total assets was caused by the weak development in the stock market in 2001. The weak development in the stock market reduced the value of investments in equities, units and capital certificates by 18 per cent compared with 2000. On the other hand, investments in certificates and bonds went up by 21 and 9 per cent respectivaly. Equities, units and primary capital still have the largest share of the total assets by 56 per cent in 2001.

Of the NOK 74.7 billion invested in equities, units and primary capital certificates was 58 per cent issued by the foreign sector. Investments in equities, units and primary capital went down in all sectors in 2001.

Like in 2000, the largest investor in unit trusts in 2001 was the housholds, with NOK 73 billion. The housholds held 55 per cent of total assets in 2001.

2001 was a miserabel year for the unit trusts, and the loss after taxes was NOK 13 497 million. In 2000 the profit after taxes was NOK 764 million. This imense downward effect was caused by lower portfolio income and higher portfolio losses than in 2000. The reduction of portfolio income was mainly caused by a fall of gains on securities from NOK 15 088 million in 2000 to NOK 1 million in 2001. Further more, increased portfolio losses was caused by a rise of losses on securities from NOK 1 038 million in 2000 to NOK 11 893 million in 2001.

Tables:

• Table 1 Unit trusts. Participation capital, by creditor sector. Market value. 1994-2001. Million kroner
• Table 2 Unit trusts. Profit and loss account. 31 December 1996-2001. Million kroner
• Table 3 Unit trusts. Balance sheet by financial instruments. 31 December 1995-2001. Million kroner