Mutual funds, quarterly figures, Q4 2009

The net purchases of mutual fund shares is the highest registered since the first quarter of 2007. As much as NOK 18.9 billion of the net purchases were placed in equity funds. There were net purchased shares in all types of funds except in money-market funds. Investors net sold shares in these funds for NOK 2.7 billion.

Most growth in equity funds

The total value of mutual fund shares increased by NOK 41 billion, or about 10 per cent, to NOK 448.7 billion from the end of the third quarter of 2009 to the end of the fourth quarter. It was the equity funds that increased the most in value. High net purchases and positive development in the markets contributed to an increase in the values of equity fund shares by nearly NOK 38 billion to NOK 252.6 billion.

Foreign investors increased investments further

The last quarter of 2009 is the fourth quarter in a row where foreign investors net purchased mutual fund shares. The investments were moderate in the first quarter of last year, but from the second quarter the investments increased in value. Net purchases of mutual fund shares by foreign investors were at 2.3, 5.7 and 8 NOK billion in the last three quarters of 2009. During 2009, foreign investors net purchased for a total of NOK 16.3 billion in mutual fund shares.

Life insurance companies and households net puchased in equity funds

Life insurance companies net purchased for a total of NOK 5.4 billion in the fourth quarter, of which NOK 5 billion were invested in equity funds. Also the households net purchased mutual fund shares during this quarter. This sectors’ net purchases amounted to NOK 2.3 billion in the fourth quarter of 2009.

Small changes in ownership

At the end of the quarter, life insurance companies were still the largest owners of mutual funds, with a share of 28.1 per cent, while the households’ owner share was 24.6 per cent. Foreign investors` owner share was marginally increased to 13.6 per cent.