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247223
Increase in net purchases, but share capital remains stable
statistikk
2016-05-26T10:00:00.000Z
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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An overview of the Norwegian mutual funds, with a focus on shares capital, owner sector, transactions and mutual funds’ assets.

Mutual funds, quarterly figures, Q1 2016

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Increase in net purchases, but share capital remains stable

Net purchases of mutual fund shares registered in Norway increased during the first quarter of 2016. Following NOK 26.9 billion worth of net sales in Q4 2015, the first quarter of 2016 saw Norwegian and foreign customers net purchasing NOK 24.9 billion worth of mutual fund shares.

Outstanding amounts and net purchases of mutual fund shares. Market value (NOK million)Published 26 May 2016
2nd quarter 20153rd quarter 20154th quarter 20151st quarter 2016
All sectors
Outstanding amounts959 908942 528958 123959 517
Net purchases/sales-5 2185 871-26 93024 936
General government
Outstanding amounts12 28011 99412 57612 750
Net purchases/sales-660-87321395
Financial corporations
Outstanding amounts609 283610 114607 132619 936
Net purchases/sales1 84011 394-17 52426 344
Non-financial corporations
Outstanding amounts64 01962 70559 89861 716
Net purchases/sales-1 238275-4 8312 244
Households
Outstanding amounts139 397132 317139 758134 235
Net purchases/sales1 482-1 1342 721-344
Non-profit institutions serving households
Outstanding amounts31 76431 79331 60931 550
Net purchases/sales1 117631-1 043-1 139
Rest of the world
Outstanding amounts103 02593 444106 85599 202
Net purchases/sales-7 762-5 208-6 587-2 538
Unspecified sector
Outstanding amounts140161295128
Net purchases/sales3013-26

Source: Statistics Norway

Total share capital remained stable however, and this is due to changes in the value of the funds’ assets, partly as a result of the strengthening of the Norwegian krone. The total share capital of mutual funds registered in Norway increased by NOK 1.4 billion, or 0.1 per cent, during the first quarter of 2016. Although total share capital saw little increase, net purchases of fund shares totalled NOK 24.9 billion. It is mainly life insurance companies, pension funds and the mutual funds themselves that have net purchased fund shares. Altogether, these sectors net purchased equity and bond fund shares for a total of NOK 25.7 billion. During the same period, foreigners, households and non-profit institutions net sold fund shares worth NOK 4 billion, where the single largest contributor was the foreign sector´s NOK 2.5 billion worth of net sales.

Equity and other bond funds down, bond and money market funds up

Although total share capital remained relatively unchanged during the first quarter of 2016, there were changes in the share capital within the different fund types. Equity funds and other bond funds saw a NOK 11.7 and 5.9 billion decrease during the quarter respectively. This corresponds to a 2.5 and 9.7 per cent decrease in share capital. At the same time, total share capital in bond and money market funds increased by NOK 4.8 and 5.9 billion; an increase of 4.8 and 5.9 per cent respectively.

The quarter saw net purchases of equity, bond and money market fund shares worth NOK 11.4 billion, 12.6 billion and 5.1 billion respectively. Hybrid funds, on the other hand, were net sold for a total of NOK 4.5 billion.

Life insurance companies and pension funds still largest

Life insurance companies and pension funds still make up the biggest holding sector of mutual fund shares. Their share of the total share capital is NOK 415.8 billion. This corresponds to a 43.3 per cent share of the total market and a one percentage point increase since the end of the fourth quarter of 2015. Mutual funds own major shares of the market. Their share of the total share capital stood at NOK 121.8 billion at the end of the quarter, corresponding to 12.7 per cent of the total share capital. This is a slight increase since the end of 2015. Households and foreigners are also major shareholders in mutual funds registered in Norway, owning NOK 134.2 billion and 99.2 billion worth of share capital respectively. Since the end of the last quarter, these sectors have seen a decrease in their shares of the total market. Households’ market shares are down from 14.6 per cent to 14 per cent of total share capital, while foreigners now own 10.3 per cent of all mutual fund shares registered in Norway. This is a 0.9 percentage point decrease since the end of 2015, down from 11.2 per cent.