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92978
Increased purchases of bond funds
statistikk
2013-02-26T10:00:00.000Z
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
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Mutual funds, quarterly figures, Q4 2012

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Increased purchases of bond funds

The total value of the Norwegian mutual fund shares went up by NOK 28.5 billion to NOK 609.7 billion during the fourth quarter of 2012. Net purchase of fund shares was NOK 23 billion.

Mutual funds shares capital and net purchases. Market value (NOK million)Published 26 February 2013
1st quarter 20122nd quarter 20123rd quarter 20124th quarter 2012
All sectors
Mutual funds shares capital562 137550 046581 203609 700
Net purchases/sales12 1942 9958 73222 978
General government
Mutual funds shares capital13 41313 67613 64712 967
Net purchases/sales-218362-432-771
Financial corporations
Mutual funds shares capital298 587300 788319 945335 906
Net purchases/sales10 0806 6997 67714 800
Non-financial corporations
Mutual funds shares capital45 90043 91947 27050 843
Net purchases/sales-212-1 7471 9201 709
Households
Mutual funds shares capital103 73398 123101 493103 624
Net purchases/sales-1 844-1 172-1 4451 135
Non-profit institutions serving households
Mutual funds shares capital19 87119 51520 91521 364
Net purchases/sales926464717762
Rest of the world
Mutual funds shares capital80 41573 75177 72984 800
Net purchases/sales3 503-1 6083015 338
Unspecified sector
Mutual funds shares capital218274204196
Net purchases/sales-41-3-65

Source: Statistics Norway

The increase in the total capital of mutual funds went up by 4.9 per cent during the 4th quarter of 2012 mainly due to the high net purchases of funds. The bond funds went up by 12.3 per cent, and other bond funds were up 11.7 per cent. The value of the equity funds also went up 2.8 per cent. Money market fund shares, however, were 1.4 per cent lower compared to the previous quarter.

The NOK 23 billion net purchase of funds during the last quarter of the year was the highest in volume during the year of 2012. Life insurance companies and foreign investors purchased the most, with NOK 9.5 billion and NOK 5.3 billion respectively.

Increase in the total capital of mutual funds in 2012

The total value of the mutual funds went up NOK 83.9 billion during 2012. The reason can mostly be attributed to net purchases amounting to NOK 46.9 billion during last year, while the rest of the increase was due to an increase in the prices of the mutual funds shares. The investors preferred to buy bond funds and sold mostly money market funds throughout the year.

Investors net bought NOK 14.7 billion bond funds and NOK 3.5 billion worth of other bond funds. NOK 6 billion worth of equity funds was also net bought, while NOK 2.4 billion worth was net sold.

Life insurance companies’ investment continued

The largest owners in the Norwegian mutual funds market; life insurance companies, bought a net amount of NOK 9.6 billion worth of bond funds in the fourth quarter of 2012.

Households net bought in the 4th quarter

After net selling three consecutive quarters in 2012, the household sector started buying mutual fund shares again, and net bought mutual funds totalling NOK 1.2 billion in the last quarter of 2012. They mainly bought bond funds and hybrid funds, while net selling equity funds and money market funds.

Foreign investors were eager buyers of equity funds in the fourth quarter

Foreign investors net purchased a total of NOK 5.3 billion of mutual funds during the 4th quarter of 2012. Most of the purchases were in equity funds, which totalled NOK 4.1 billion.

Life insurance companies’ owner share went slightly down

The life insurance companies’ owner share went down by 0.1 percentage points to 37.4 per cent in the fourth quarter of 2012. Households’ owner share was also lower than the previous quarter, at 17 per cent. Foreign investors’ owner share on the other hand went up to 13.9 per cent compared to the owner share of 13.4 per cent in the previous quarter.

Changes in classification of fundsOpen and readClose

Statistics Norway has decided to introduce changes in the classification of the funds as of 1 January 2012. This decision is in line with the Norwegian Fund and Asset Management Association’s (VFF) standards, which were introduced in 2010. According to this, a new group called ‘other bond funds’ was introduced and the money market funds were defined more precisely.

Institutional sector classification 2012Open and readClose

The institutional sector classification has been revised. New four-digit sector codes have been introduced and the definitions of some sectors in the classification have been changed. The revised sector classification will be implemented in the Norwegian statistical system over the next two years.

The new sector classification was adopted in the mutual funds statistics at the beginning of 2012. One of the most significant changes is that the line between financial and non-financial sectors has been shifted such that the financial sectors increased in value. In addition to this, new financial sectors were added. Households and non-profit institutions will also be treated separately according to the new institutional sector classification.

Following the introduction of a new sector standard, the older series will not be updated. New tables have been introduced and these will include time series from the first quarter of 2012 onwards.