Mutual funds, quarterly figures, Q3 2008

The total mutual funds shares capital amounted to NOK 375.5 billion at the end of the 3rd quarter. The fall in value from the end of the 2nd quarter was NOK 43.5 billion. NOK 2.5 billion of this fall were netsales, and the remaining decrease was due to loss of value. Equity funds stood for 40.5 billion NOK of this fall in value and contributed to the mutual funds’ value to decrease by 17.9 per cent.

In total, mutual fund shares were net sold for NOK 2.5 billion in the 3rd quarter 2008. Private persons net sold shares for NOK 2.9 billion, of which most were shares in money market funds. Also, foreign investors and private enterprises net sold shares for 1.1 and 3.2 billion respectively. Financial auxiliaries and other financial enterprises, on the other hand, net purchased NOK 1.7 and NOK 3 billion worth of shares.

Domestic stock investments fell the most in value

Of the funds' assets, it was particularly stocks issued in Norway that fell in value, decreasing by a whole 30 per cent. In comparison, the funds’ investments in foreign stock markets fell by 13 per cent. This difference can be explained by the fact that Norway's stock market was particularly unstable during the period and fell more in value than many other markets. In addition, the Norwegian currency weakened during the period, contributing to reduce the loss in value of stock issued abroad.

Life insurance companies still the largest owner

Life insurance companies were, as in the previous four quarters, the largest owner sector in mutual funds with an owner share of 29.3 per cent. Private persons were the second largest owner with a share of 21.4 per cent. Foreign investors had its share slightly reduced to 10 per cent.