369896
/en/bank-og-finansmarked/statistikker/vpfondk/kvartal
369896
statistikk
2019-05-22T08:00:00.000Z
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

Updated

Next update

Key figures

16.4

billions in net purchases/sales

Outstanding amounts and net purchases of mutual fund shares. Market value (NOK million)
2nd quarter 20183rd quarter 20184th quarter 20181st quarter 2019
All sectors
Outstanding amounts1 204 1281 241 2501 164 8731 249 064
Net purchases/sales-5 6578 778-2 11716 380
General government
Outstanding amounts17 61417 05515 14316 253
Net purchases/sales240-98-93716
Financial corporations
Outstanding amounts790 074818 737786 355841 630
Net purchases/sales-1 0334 3973 89610 507
Non-financial corporations
Outstanding amounts82 80184 48372 54075 080
Net purchases/sales-1 2962 056-2 221760
Households
Outstanding amounts160 157164 204148 233160 884
Net purchases/sales-6 294689-3381 830
Non-profit institutions serving households
Outstanding amounts37 30037 88631 29133 211
Net purchases/sales1 4241 486-1 790932
Rest of the world
Outstanding amounts115 828118 547110 995121 850
Net purchases/sales1 227292-1 5611 801
Unspecified sector
Outstanding amounts354338316156
Net purchases/sales75-44-10-166

See selected tables from this statistics

Table 1 
Holdings of mutual fund shares, by holding sectors. NOK million

Holdings of mutual fund shares, by holding sectors. NOK million
2nd quarter 20183rd quarter 20184th quarter 20181st quarter 2019
Total1 204 1281 241 2501 164 8731 249 064
Non-financial corporations82 80184 48372 54075 080
Public unincorporated enterprises, owned by central government0000
Public incorporated enterprises, owned by central government7 4527 3348 0817 249
Public unincorporated enterprises, owned by local government69706872
Public incorporated enterprises, owned by local government1 7611 7451 8402 562
Private non-financial incorporated enterprises69 56371 26159 21261 561
Private non-financial unincorporated enterprises149165156167
Private non-profit institutions serving enterprises3 8073 9083 1833 469
Financial corporations790 074818 737786 355841 630
Norges Bank0000
Banks30 88031 63428 72428 790
Mortgage companies108243123183
Finance companies85852625
State lending institutions etc.581582453359
Financial holding companies166168166179
Mutual funds152 964156 961151 414161 006
Investment trusts and private equity funds358329409767
Other financial enterprises, except insurance companies and pension funds70 74780 17894 47299 318
Life insurance companies and pension funds519 790533 597497 875536 501
Non-life insurance companies14 39514 96012 69314 502
General government17 61417 05515 14316 253
Central government1 6971 616581487
Local government15 91715 43914 56215 766
Non-profit institutions serving households37 30037 88631 29133 211
Households160 157164 204148 233160 884
Unincorporated enterprises within households37382629
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.2233
Employees, recipients of property income, pensions and social contributions, students etc.160 118164 164148 204160 852
Rest of the world115 828118 547110 995121 850
Unspecified sector354338316156

Table 2 
Net purchases of mutual fund shares by purchasing sectors. NOK million

Net purchases of mutual fund shares by purchasing sectors. NOK million
Net purchases/sales
2nd quarter 20183rd quarter 20184th quarter 20181st quarter 2019
Total-5 6578 778-2 11716 380
Non-financial corporations-1 2962 056-2 221760
Public unincorporated enterprises, owned by central government0000
Public incorporated enterprises, owned by central government-510-122920-871
Public unincorporated enterprises, owned by local government-44103
Public incorporated enterprises, owned by local government-380-33238736
Private non-financial incorporated enterprises-3681 999-3 000711
Private non-financial unincorporated enterprises-520-38
Private non-profit institutions serving enterprises11191-376173
Financial corporations-1 0334 3973 89610 507
Norges Bank0000
Banks846173-1 3091 140
Mortgage companies-330135-12066
Finance companies00-630
State lending institutions etc.-1670-129-95
Financial holding companies00210
Mutual funds-1 380-5676 828662
Investment trusts and private equity funds-71-3283356
Other financial enterprises, except insurance companies and pension funds4942464 294-123
Life insurance companies and pension funds-1234 199-4 6857 266
Non-life insurance companies-302243-1 0051 225
General government240-98-93716
Central government4387-228-100
Local government197-185135816
Non-profit institutions serving households1 4241 486-1 790932
Households-6 294689-3381 830
Unincorporated enterprises within households-310-1
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.0000
Employees, recipients of property income, pensions and social contributions, students etc.-6 291688-3381 831
Rest of the world1 227292-1 5611 801
Unspecified sector75-44-10-166

Table 3 
Mutual Funds' assets. Market value. NOK Million

Mutual Funds' assets. Market value. NOK Million
Sum all assetsDepositsShort-term debt securitiesShort-term debt securitiesShort-term debt securitiesLong-term debt securitiesLong-term debt securitiesLong-term debt securitiesSharesMutual fund sharesEquity certificatesOther assets
Issued byIssued byIssued byIssued byEquity certificates
Central governmentOther domestic sectorsRest of the worldCentral governmentOther domestic sectorsRest of the worldDomestic sectorsRest of the worldDomestic sectorsRest of the worldEquity certificates
2nd quarter 20181 210 18443 9945 08819 9687 58810 305260 495135 095128 509396 254152 96439 9435 4664 516
3rd quarter 20181 247 30648 6784 72519 6127 72212 023266 023137 801136 615409 319156 96137 5615 7504 516
4th quarter 20181 170 92940 4285 41418 3177 42410 079263 544139 888119 453377 379151 41427 8705 2034 516
1st quarter 20191 255 12036 2455 38817 4379 21810 705265 654147 097128 950419 432161 00644 1145 3584 516

Table 4 
Outstanding amounts of mutual fund shares, by holding sectors and type of funds. Last quarter (NOK million)

Outstanding amounts of mutual fund shares, by holding sectors and type of funds. Last quarter (NOK million)
1st quarter 2019
Equity fundsBond fundsMoney market fundsOther bond fundsHybrid fundsOther fundsAll types of funds
Sum all holding sectors679 314320 620111 69176 95057 0723 4171 249 064
Non-financial corporations25 25515 65616 43110 2286 2181 29275 080
Public unincorporated enterprises, owned by central government0000000
Public incorporated enterprises, owned by central government3471 9064 030963307 249
Public unincorporated enterprises, owned by local government2184300072
Public incorporated enterprises, owned by local government2543101 3416292802 562
Private non-financial incorporated enterprises23 46612 7789 7378 1696 1191 29261 561
Private non-financial unincorporated enterprises3062542280167
Private non-profit institutions serving enterprises1 1375921 2754254003 469
Financial corporations453 883265 06261 45945 86113 4681 898841 630
Norges Bank0000000
Banks9 5238 1897 4172 6381 024028 790
Mortgage companies01830000183
Finance companies002500025
State lending institutions etc.6216137000359
Financial holding companies4601231000179
Mutual funds117 18224 2519 6549 91900161 006
Investment trusts and private equity funds44196772124767
Other financial enterprises, except insurance companies and pension funds51 23118 98913 1938 4966 87253799 318
Life insurance companies and pension funds269 944207 15629 04223 4335 5691 357536 501
Non-life insurance companies5 9076 0591 1911 3441014 502
General government4 4513 8476 3991 52234016 253
Central government337201233130487
Local government4 4483 8106 1981 28921015 766
Non-profit institutions serving households13 61910 2195 1383 42371010233 211
Households104 8425 8327 0918 02434 983111160 884
Unincorporated enterprises within households1006013029
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.0300003
Employees, recipients of property income, pensions and social contributions, students etc.104 8325 8297 0858 02434 970111160 852
Rest of the world77 23119 96115 1417 8701 63314121 850
Unspecified sector33433222260156

Table 5 
Net purchases of Norwegian mutual fund shares, by holding sectors and type of funds. Last quarter. NOK million

Net purchases of Norwegian mutual fund shares, by holding sectors and type of funds. Last quarter. NOK million
1st quarter 2019
All types of fundsEquity fundsBond fundsMoney market fundsOther bond fundsHybrid fundsOther funds
Sum all holding sectors16 3802 0018 3072 7423 432-11412
 
Non-financial corporations760-439634-4389441544
Public unincorporated enterprises, owned by central government0000000
Public incorporated enterprises, owned by central government-871-5716-626-20400
Public unincorporated enterprises, owned by local government3201000
Public incorporated enterprises, owned by local government736-11139932520
Private non-financial incorporated enterprises711-413525-2848251444
Private non-financial unincorporated enterprises8041030
Private non-profit institutions serving enterprises173307871-2-40
Financial corporations10 5072 5005 2791 902987-100-60
Norges Bank0000000
Banks1 140-350501860324-1940
Mortgage companies660660000
Finance companies0000000
State lending institutions etc.-950-75-20000
Financial holding companies100001000
Mutual funds662117-8711252000
Investment trusts and private equity funds356003401600
Other financial enterprises, except insurance companies and pension funds-123-531-112-12461391-60
Life insurance companies and pension funds7 2662 9144 380474-50530
Non-life insurance companies1 225350606260900
General government716-232188627138-50
Central government-100020-1634120
Local government816-23216879097-70
Non-profit institutions serving households932-7551 247-105524-122
Households1 830943230134811566
Unincorporated enterprises within households-100-1000
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.0000000
Employees, recipients of property income, pensions and social contributions, students etc.1 831943230144811566
Rest of the world1 801-15744742358-280
Unspecified sector-166-1-1510-1510

About the statistics

The statistic Mutual funds, quarterly figures include mutual funds managed by Norwegian fund managers and contain information about share capital and net purchases of mutual fund shares by type of fund and holding sector.

Definitions

Definitions of the main concepts and variables

Definitions of the main concepts and variables:

Mutual fund: Mutual funds are collective investment undertakings through which an indefinite circle of investors pool funds for investment mostly in securities such as listed shares, equity certificates, bonds and short-term debt securities.

Securities: A security is a negotiable financial instrument. Negotiability refers to the fact that its legal ownership is readily capable of being transferred from one owner to another by delivery or endorsement. While any financial instrument can potentially be traded, a security is designed to be traded on an organised exchange or “over the counter”, although evidence of actual trading is not required. The over-the-counter marketinvolves parties negotiating directly with one another, rather than on a public exchange.

Securities include debt securities and equity securities, securities such as listed and unlisted shares, equity certificates, bonds and short-term debt securities.

Type of mutual funds:

The mutual funds are grouped into the following six types of mutual funds, according to how the mutual funds share capital is invested: equity funds, bond funds, money market funds, hybrid funds, other bond funds and other funds.

Equity fund is a type of mutual fund, where 80 percent of shareholders’ capital is invested in equity securities, mainly listed shares and equity certificates.

Bond fund is a mutual fund invested in debt instruments or bond funds. It is also called debt fund. Share capital in bond funds are invested in long-term debt instruments.

Money market fund is a mutual fund or more exactly a debt fund that invests in short-term debt securities such as treasury bills and commercial papers that are called money market instruments that have maturity of less than a year.

Hybrid fund is a mutual fund that invests both in equities and bonds. The percentage of equities or debt instruments in the portfolio of the hybrid funds varies from one hybrid fund to another. This percentage may also vary over time.

Other bond fund is a debt fund that doesn’t fall into the category of bond fund or money market fund.

Other fund can be described as a mutual fund that cannot be classified as any of the above mentioned funds. Hedge funds among others are classified under this category.

 

Evaluating

The market value of the mutual funds' shares is based on the net share value of the individual fund at the end of each period.

The market value of the securities owned by the mutual funds is based on available market rates. For listed securities, this will mainly be the market price from the Oslo Stock Exchange and foreign stock exchanges. For the non-listed, VPS-registered securities, estimated market rates derived from annual tax assessment rates are used.

Standard classifications

The sector and industry classification for Norwegian enterprises (issuers/owners) is entirely based on the Register of Business Enterprises in Brønnøysund that is based on the international requirements stated in SNA2008/ESA2010 and NACE Rev.2 from the 4th quarter of 2006.

Administrative information

Name and topic

Name: Mutual funds, quarterly figures
Topic: Banking and financial markets

Next release

Responsible division

Division for Financial Markets Statistics

Regional level

National level, no regional divisions.

Frequency and timeliness

Quarterly. Normally published 9-10 weeks after the end of the reference period.

International reporting

OECD and BIS

Microdata

Time series are stored in a database solution.

Background

Background and purpose

The purpose is to provide an overview of the mutual funds’ balance sheet, with a particular focus on the sector information of the funds’ shares capital and mutual funds’ assets. Data basis is also used as an input for the balance of payments, financial sector accounts and the money supply statistics.

The statistics were established in 1997 and contains quarterly data as of 1st quarter of 1996. Data is also available for earlier periods, on an annual basis, annual accounting statistics for mutual funds.

The responsibility for publishing the statistics was transferred from Central Bank of Norway to Statistics Norway as of 1 January 2007.

Users and applications

In addition to Statistics Norway, important users are, public authorities, research institutes and participants in the securities markets.

Equal treatment of users

Not relevant

Coherence with other statistics

Adapted in accordance with the national accounts’ recommendations.

Legal authority

The Statistics Act § 2-2.

EEA reference

Not relevant

Production

Population

The statistics are based on:

• Data on mutual funds’ shares capital and on the transactions of mutual funds shares.

• Data on the mutual funds’ holdings of Norwegian and foreign securities.

Data sources and sampling

The statistics is based on quarterly reporting of the mutual funds’ managers, monthly data deliveries from the Norwegian Central Securities Depository (VPS) and custodians (for information on the mutual funds). ORBOF (accounting information for banks and financial undertakings) is used as a source, with regard to the mutual funds’ bank deposits.

The statistics include all Norwegian-registered mutual funds.

Collection of data, editing and estimations

Primary data on mutual funds’ shares are received electronically from the mutual funds’ managers, via AltInn, the common Web portal for public reporting. Other relevant data, mainly on the mutual funds’ holdings of securities, is extracted from data that the Division for Financial Market Statistics collects from other sources for securities data.

Primary data is controlled for each source. In addition, controls are carried out on balance sheet level, both per mutual fund and at an aggregate level. Data series are reviewed on an ongoing basis and are published together with the data for the new reference period.

For some smaller balance sheet items where no quarterly data are received, interpolations are made, based on the annual accounts data.

Seasonal adjustment

Not relevant

Confidentiality

Statistics Norway’s standard confidentiality rules apply.

Comparability over time and space

Generally, the mutual funds statistics provide quarterly data comparable over time. However, changes in the legal framework, changes in the regulation of registration requirements in the Securities Register act and changes in the institutional sector classification can all lead to break in the time-series data. The main changes that are introduced are as follows:

2012: A new four digit institutional sector classification is introduced

The new sector classification was adopted in the mutual funds statistics as of January 2012. One of the most significant changes is that the line between financial and non-financial sectors has been shifted such that the value of the financial sectors increased. In addition to this, new financial sectors were introduced such as investment trusts and private equity funds other financial enterprises, except insurance companies and pension funds. Households and non-profit institutions serving households are also treated separately according to the new institutional sector classification.

2012: New classification of type of funds

Statistics Norway introduced changes in the classification of the mutual funds as of 1st January 2012. This change in the standards is in line with the Norwegian Fund and Asset Management Association’s (VFF) standards, which they introduced in 2010. According to this, a new group called ‘other bond funds’ was introduced and the money market funds were defined more precisely. Changes were in line with the new guidelines that were drawn by ESMA- European Securities and Markets Authority to have a new common definition of the money market funds.

2006: Changes in the statistics as of 4th quarter of 2006

The mutual funds’ investments in mutual funds shares are included in the figures as of 4th quarter 2006. Previous quarters were published as net figures, i.e. without these investments.

In addition, the information regarding what mutual funds own in terms of shares, bonds short-term debt securities were directly collected through VPS (Norwegian Central Securities Depository) and the custodians that deposit the mutual funds’ assets.

2004:

A quarterly direct reporting of information on the mutual funds shares, via mutual funds’ managers has been established starting with the 4th quarter of 2004.

Accuracy and reliability

Sources of error and uncertainty

To the extent that the fixed delivery from the primary sources contains errors or defects, this could affect the statistics. Processing and control routines have been established in order to detect and correct such errors and defects.

Revision

Not relevant