54807_not-searchable
/en/bank-og-finansmarked/statistikker/vpfondk/kvartal
54807
Growth in equity and bond funds
statistikk
2011-02-24T10:00:00.000Z
Banking and financial markets
en
vpfondk, Mutual funds, quarterly figures, fund types (for example mutual fund, bond fund, money market fund), mutual fund shares capital, stocks, net subscriptionsSecurities markets , Banking and financial markets
false

Mutual funds, quarterly figures, Q4 2010

Content

Published:

This is an archived release.

Go to latest release

Growth in equity and bond funds

In the fourth quarter of 2010, the total net purchases of mutual fund shares were extremely high and amounted to a total of NOK 34.5 billion. The total value of mutual funds ended at a record high level of NOK 541.2 billion at the end of the year.

Net purchases of shares in equity funds by purchasing sector. NOK billion.

Stocks of mutual fund shares in total and by type of mutual fund. Market value in NOK billion

Total net purchases amounted to NOK 34.5 billion in the fourth quarter of 2010. Last time such high net purchases were recorded was in the fourth quarter of 2005. Of the net purchases in the fourth quarter of 2010, NOK 16 billion was invested in equity bonds and NOK 14.5 was invested in bond funds.

Investments of the life insurance companies were the highest

Companies in the life insurance sector invested a total of NOK 25.8 billion in all types of funds. This is the highest amount that these companies have invested in mutual funds in history. Life insurance companies being the largest owner sector, stood for 75 per cent of all net purchases. Life insurance companies placed NOK 13.1 billion in bond funds, NOK 10.5 billion in equity funds and NOK 2.1 billion in money market funds.

High level of stocks of mutual fund shares

From the end of the third quarter of 2010 to the end of the fourth quarter of 2010, the total value of mutual funds increased by NOK 66.5 billion to a record high level of NOK 541.2 billion. The value of the equity funds went up most, by NOK 47.8 billion to NOK 314.4 billion. Compared to the third quarter of 2010, this constitutes an increase of 17.9 per cent.

The positive developments in the value of the Norwegian registered mutual funds in the last quarter of the year can be mostly attributed to the increase in the net purchases of mutual fund shares as well as the increase in the values of the funds` portfolios.

Households continued to net sell money market funds

Households net purchased NOK 1.4 billion in shares of equity funds and NOK 1.2 billion in shares of hybrid funds in the fourth quarter of 2010. Although they sold money market funds worth NOK 1.4 billion, the total picture shows that they have net bought mutual funds worth NOK 1.1 billion.

Higher net purchases of the foreign investors

Foreign investors net purchased NOK 2.1 billion worth of equity funds in the fourth quarter of 2010. Compared to the previous quarter this is a positive development. However, it cannot match the high investment of foreigners in the last quarter of 2009. During that quarter a total sum of NOK 7.8 billion was invested in equity funds.

Slight changes in the ownership

At the end of the fourth quarter of 2010, life insurance companies were still the largest owner sector in mutual funds, with an owner share of 31.6 per cent. Households’ owner share went down to 25.4 per cent. Foreign investors’ owner share stayed almost the same at 14.1 per cent at the end of the fourth quarter of 2010.

Mutual funds shares capital and net purchases. Market value in NOK million
  Q2 2009 Q3 2009 Q4 2009 Q1 2010 Q2 2010 Q3 2010 Q4 2010
Total              
Mutual funds shares capital  366 313  407 386  448 739  474 148  446 428  474 658  541 177
Net purchases 13 682 15 711 20 414 12 272 -7 157 3 794 34 496
General government              
Mutual funds Mutual funds shares capital capital 14 192 14 883 14 776 15 323 14 453 14 699 14 569
Net purchases  283  232 -457 -129 -624 -153 -605
Financial corporations              
Mutual funds shares capital  170 074  185 298  200 007  208 157  200 423  213 992  254 181
Net purchases 8 055 5 385 7 720 6 137 -583 3 806 27 583
Non-financial corporations              
Mutual funds shares capital 42 350 46 513 50 666 53 989 49 309 51 473 58 340
Net purchases -418 1 478 1 842 1 883 -2 756  157 4 358
Households              
Mutual funds shares capital  101 221  112 277  122 332  129 397  119 670  127 085  137 588
Net purchases 3 390 2 882 3 321 2 467 -2 114 -122 1 084
Rest of the world              
Mutual funds shares capital 38 476 48 415 60 958 67 282 62 573 67 409 76 499
Net purchases 2 372 5 734 7 988 1 914 -1 080  106 2 076

Adjustments made in the mutual fund statistics due to nominee ownership

In order to show the actual owners in mutual funds, adjustments have been made in the statistical material. This has caused a decrease in banks and financial auxiliaries’ owner share, while employees/households have had their owner share increased.

The adjustments, which include both owner positions and net purchases of mutual fund shares, have been made in all quarters dating back to the first quarter of 2008. In the statistics for the fourth quarter of 2010, owner positions of NOK 14.4 billion have been transferred to employees/households, of which NOK 6.6 billion was moved from banks and NOK 7.8 billion taken from financial auxiliaries.

Nominee - ownership is where parties other than the beneficial owners are registered in the investment companies’ registers. In this context, this means that banks and financial auxiliaries have been registered as owners on behalf of employees/households.