Mutual funds, quarterly figures, Q2 2008

Despite, total net sales amounting to approximately NOK 2 billion, mutual funds share capital in all types of funds rose from NOK 414,2 billion in the first quarter of 2008 to NOK 419 billion in the second quarter of 2008. This is equivalent to a rise of NOK 4.8 billion or 1.1 per cent. This increase can mainly be explained by a rise in the Norwegian and in foreign stock markets during the period.

In the second quarter total net purchases in equity funds amounted to NOK 4.6 billion. The main cause for this, were the foreign investors’ net total purchases of NOK 4.7 billion during the period.

Most domestic sectors net sold mutual funds shares

Private individuals net sold shares in all types of funds by NOK 2.5 billion during the quarter. Rising values of the mutual funds’ portfolios, however, contributed to this sectors ownership to rise by NOK 545 million to NOK 96.7 billion. During the second quarter private enterprises net sold shares amounting to a total of NOK 3.9 billion. Out of these, NOK 3.3 billion were net sold in money market funds.

Banks and financial auxiliaries net purchased for NOK 1 billion and NOK 486 million respectively.

Small change in ownership

The life-insurance sector was, as in the previous three quarters, the largest owner sector of mutual funds with a share of 28.6 per cent. Private individuals owned 23.1 per cent of mutual funds, while foreign based investors increased their share to 10.7 per cent.