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/en/bank-og-finansmarked/statistikker/vpfondk/kvartal
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statistikk
2020-02-20T08:00:00.000Z
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

0.5

billions in net purchases/sales

Outstanding amounts and net purchases of mutual fund shares. Market value (NOK million)
1st quarter 20192nd quarter 20193rd quarter 20194th quarter 2019
All sectors
Outstanding amounts1 249 0641 284 8221 312 8361 360 018
Net purchases/sales16 38012 699-7 149523
General government
Outstanding amounts16 25317 34417 47916 499
Net purchases/sales716945-128-1 299
Financial corporations
Outstanding amounts841 631865 215881 287903 188
Net purchases/sales10 5098 310-8 847-6 101
Non-financial corporations
Outstanding amounts75 08077 35378 92183 438
Net purchases/sales7591 760-1401 844
Households
Outstanding amounts160 883163 994168 409182 403
Net purchases/sales1 8304803623 788
Non-profit institutions serving households
Outstanding amounts33 21033 90233 78835 198
Net purchases/sales931691-479368
Rest of the world
Outstanding amounts121 851126 890132 834139 176
Net purchases/sales1 8015022 0911 918
Unspecified sector
Outstanding amounts156124118116
Net purchases/sales-16611-85

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
1st quarter 20192nd quarter 20193rd quarter 20194th quarter 2019
Total1 249 0641 284 8221 312 8361 360 018
Non-financial corporations75 08077 35378 92183 438
Public unincorporated enterprises, owned by central government0000
Public incorporated enterprises, owned by central government7 2506 9276 4676 427
Public unincorporated enterprises, owned by local government72666668
Public incorporated enterprises, owned by local government2 5612 2052 2581 564
Private non-financial incorporated enterprises61 56164 77166 35871 743
Private non-financial unincorporated enterprises167167164167
Private non-profit institutions serving enterprises3 4693 2173 6083 469
Financial corporations841 631865 215881 287903 188
Norges Bank0000
Banks28 79130 74231 03525 505
Mortgage companies183269170199
Finance companies25505051
State lending institutions etc.359649616499
Financial holding companies1794 0083 5083 448
Mutual funds161 005164 230157 212164 465
Investment trusts and private equity funds767223545655
Other financial enterprises, except insurance companies and pension funds99 318104 625107 225114 947
Life insurance companies and pension funds536 502546 338566 806579 070
Non-life insurance companies14 50214 08114 12014 349
General government16 25317 34417 47916 499
Central government487527679752
Local government15 76616 81716 80015 747
Non-profit institutions serving households33 21033 90233 78835 198
Households160 883163 994168 409182 403
Unincorporated enterprises within households29252427
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.3343
Employees, recipients of property income, pensions and social contributions, students etc.160 851163 966168 381182 373
Rest of the world121 851126 890132 834139 176
Unspecified sector156124118116

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
1st quarter 20192nd quarter 20193rd quarter 20194th quarter 2019
Total16 38012 699-7 149523
Non-financial corporations7591 760-1401 844
Public unincorporated enterprises, owned by central government0000
Public incorporated enterprises, owned by central government-871-367-500-33
Public unincorporated enterprises, owned by local government3000
Public incorporated enterprises, owned by local government736-37522-715
Private non-financial incorporated enterprises7092 79782 795
Private non-financial unincorporated enterprises9-2-31
Private non-profit institutions serving enterprises173-293333-204
Financial corporations10 5098 310-8 847-6 101
Norges Bank0000
Banks1 1412 00873-4 609
Mortgage companies6685-10027
Finance companies01300
State lending institutions etc.-95288-35-120
Financial holding companies103 820-518-77
Mutual funds662-147-13 092818
Investment trusts and private equity funds356-54931973
Other financial enterprises, except insurance companies and pension funds-1212 3689583 569
Life insurance companies and pension funds7 2651 0503 859-5 660
Non-life insurance companies1 225-626-311-122
General government716945-128-1 299
Central government-1003814659
Local government816907-274-1 358
Non-profit institutions serving households931691-479368
Households1 8304803623 788
Unincorporated enterprises within households-1-6-21
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.0000
Employees, recipients of property income, pensions and social contributions, students etc.1 8314863643 787
Rest of the world1 8015022 0911 918
Unspecified sector-16611-85

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
1st quarter 20191 255 68439 0735 38917 4379 21910 705265 653147 047128 950419 431161 00545 1415 3581 276
2nd quarter 20191 291 44242 3114 79617 70411 80110 194273 351156 027128 169427 621164 23047 9266 0361 276
3rd quarter 20191 319 45640 9914 92118 34611 85810 065275 239165 024130 103455 291157 21242 9626 1671 276
4th quarter 20191 366 63843 8415 72222 64111 6719 888273 478161 176139 993475 797164 46549 5837 1071 276

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)
4th quarter 2019
Equity fundsBond fundsMoney market fundsOther bond fundsHybrid fundsOther fundsAll types of funds
Sum all holding sectors753 509336 737107 91596 71261 4543 6911 360 018
Non-financial corporations28 07113 14617 82916 4536 1991 74083 438
Public unincorporated enterprises, owned by central government0000000
Public incorporated enterprises, owned by central government121 8533 770791106 427
Public unincorporated enterprises, owned by local government1684400068
Public incorporated enterprises, owned by local government2173255913973401 564
Private non-financial incorporated enterprises26 59710 52112 12214 6696 0941 74071 743
Private non-financial unincorporated enterprises3217586270167
Private non-profit institutions serving enterprises1 1974221 2975104303 469
Financial corporations493 480283 72957 82152 07014 4551 633903 188
Norges Bank0000000
Banks6 9758 7077 1721 830821025 505
Mortgage companies01990000199
Finance companies005100051
State lending institutions etc.6252241000499
Financial holding companies523 26012511003 448
Mutual funds118 28728 8716 31810 98900164 465
Investment trusts and private equity funds49315472125655
Other financial enterprises, except insurance companies and pension funds59 58520 38914 40312 9867 439145114 947
Life insurance companies and pension funds302 299216 28427 91724 8966 1911 483579 070
Non-life insurance companies6 2275 7361 0471 3372014 349
General government4 6584 0496 1691 58637016 499
Central government368318349140752
Local government4 6553 9815 8511 23723015 747
Non-profit institutions serving households15 84310 1994 8783 48568311035 198
Households121 2294 0586 75112 06938 104192182 403
Unincorporated enterprises within households120618027
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.0102003
Employees, recipients of property income, pensions and social contributions, students etc.121 2174 0576 74512 06638 096192182 373
Rest of the world90 21821 55314 43811 0251 92616139 176
Unspecified sector1032924500116

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
4th quarter 2019
All types of fundsEquity fundsBond fundsMoney market fundsOther bond fundsHybrid fundsOther funds
Sum all holding sectors5235 1101 203-9 6123 09869925
 
Non-financial corporations1 8446401 092-7214071-27
Public unincorporated enterprises, owned by central government0000000
Public incorporated enterprises, owned by central government-33-32-82500
Public unincorporated enterprises, owned by local government0000000
Public incorporated enterprises, owned by local government-715-629-413-25010
Private non-financial incorporated enterprises2 7957271 09651341868-27
Private non-financial unincorporated enterprises1-45-1100
Private non-profit institutions serving enterprises-20411-10-173-3420
Financial corporations-6 101669-1 506-7 2612 107-106-3
Norges Bank0000000
Banks-4 609-1 118-836-2 291-241-1220
Mortgage companies270270000
Finance companies0000000
State lending institutions etc.-12000-120000
Financial holding companies-770-802100
Mutual funds8184 121-178-3 48235700
Investment trusts and private equity funds7301360000
Other financial enterprises, except insurance companies and pension funds3 5691 742878-10975-13-3
Life insurance companies and pension funds-5 660-3 959-1 321-1 397988290
Non-life insurance companies-122-117-9-232700
General government-1 299-12831-969-23300
Central government5900273200
Local government-1 358-12831-996-26500
Non-profit institutions serving households368304821-588-144-250
Households3 7882 367272-16449875955
Unincorporated enterprises within households1000010
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.0000000
Employees, recipients of property income, pensions and social contributions, students etc.3 7872 367272-16449875855
Rest of the world1 9181 257493-55772500
Unspecified sector510-1500

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