Updated
Next update
Key figures
26.2
billions in net purchases/sales
4th quarter 2019 | 1st quarter 2020 | 2nd quarter 2020 | 3rd quarter 2020 | |
---|---|---|---|---|
All sectors | ||||
Outstanding amounts | 1 360 018 | 1 175 776 | 1 318 571 | 1 402 416 |
Net purchases/sales | 523 | -56 221 | 42 614 | 26 192 |
General government | ||||
Outstanding amounts | 16 499 | 14 913 | 16 507 | 17 774 |
Net purchases/sales | -1 299 | -540 | 840 | 869 |
Financial corporations | ||||
Outstanding amounts | 903 188 | 779 573 | 863 398 | 913 197 |
Net purchases/sales | -6 101 | -39 333 | 21 285 | 15 175 |
Non-financial corporations | ||||
Outstanding amounts | 83 438 | 67 732 | 75 977 | 84 008 |
Net purchases/sales | 1 844 | -7 930 | 3 041 | 6 445 |
Households | ||||
Outstanding amounts | 182 403 | 155 185 | 180 881 | 191 672 |
Net purchases/sales | 3 788 | -6 290 | 9 154 | 2 820 |
Non-profit institutions serving households | ||||
Outstanding amounts | 35 198 | 32 202 | 36 397 | 38 477 |
Net purchases/sales | 368 | -354 | 1 641 | 437 |
Rest of the world | ||||
Outstanding amounts | 139 176 | 126 032 | 145 271 | 157 097 |
Net purchases/sales | 1 918 | -1 773 | 6 628 | 426 |
Unspecified sector | ||||
Outstanding amounts | 116 | 139 | 140 | 191 |
Net purchases/sales | 5 | -1 | 25 | 20 |
See selected tables from this statistics
Table 1
Holdings of mutual fund shares, by holding sectors. NOK million
4th quarter 2019 | 1st quarter 2020 | 2nd quarter 2020 | 3rd quarter 2020 | |
---|---|---|---|---|
Total | 1 360 018 | 1 175 776 | 1 318 571 | 1 402 416 |
Non-financial corporations | 83 438 | 67 732 | 75 977 | 84 008 |
Public unincorporated enterprises, owned by central government | 0 | 0 | 0 | 0 |
Public incorporated enterprises, owned by central government | 6 427 | 5 011 | 5 173 | 7 299 |
Public unincorporated enterprises, owned by local government | 68 | 65 | 67 | 69 |
Public incorporated enterprises, owned by local government | 1 564 | 1 259 | 1 073 | 1 028 |
Private non-financial incorporated enterprises | 71 743 | 57 874 | 66 000 | 72 248 |
Private non-financial unincorporated enterprises | 167 | 150 | 159 | 155 |
Private non-profit institutions serving enterprises | 3 469 | 3 373 | 3 505 | 3 209 |
Financial corporations | 903 188 | 779 573 | 863 398 | 913 197 |
Norges Bank | 0 | 0 | 0 | 0 |
Banks | 25 505 | 22 114 | 26 199 | 28 197 |
Mortgage companies | 199 | 431 | 201 | 553 |
Finance companies | 51 | 60 | 78 | 78 |
State lending institutions etc. | 499 | 466 | 2 204 | 2 805 |
Financial holding companies | 3 448 | 3 435 | 3 517 | 3 524 |
Mutual funds | 164 465 | 136 613 | 158 545 | 172 059 |
Investment trusts and private equity funds | 655 | 676 | 616 | 934 |
Other financial enterprises, except insurance companies and pension funds | 114 947 | 97 281 | 109 971 | 118 446 |
Life insurance companies and pension funds | 579 070 | 505 030 | 547 652 | 572 353 |
Non-life insurance companies | 14 349 | 13 467 | 14 415 | 14 248 |
General government | 16 499 | 14 913 | 16 507 | 17 774 |
Central government | 752 | 729 | 802 | 827 |
Local government | 15 747 | 14 184 | 15 705 | 16 947 |
Non-profit institutions serving households | 35 198 | 32 202 | 36 397 | 38 477 |
Households | 182 403 | 155 185 | 180 881 | 191 672 |
Unincorporated enterprises within households | 27 | 24 | 24 | 28 |
Private non-financial unincorporated enterprises inclusive housing cooperatives etc. | 3 | 0 | 1 | 1 |
Employees, recipients of property income, pensions and social contributions, students etc. | 182 373 | 155 161 | 180 856 | 191 643 |
Rest of the world | 139 176 | 126 032 | 145 271 | 157 097 |
Unspecified sector | 116 | 139 | 140 | 191 |
Table 2
Net purchases of mutual fund shares by purchasing sectors. NOK million
Net purchases/sales | ||||
---|---|---|---|---|
4th quarter 2019 | 1st quarter 2020 | 2nd quarter 2020 | 3rd quarter 2020 | |
Total | 523 | -56 221 | 42 614 | 26 192 |
Non-financial corporations | 1 844 | -7 930 | 3 041 | 6 445 |
Public unincorporated enterprises, owned by central government | 0 | 0 | 0 | 0 |
Public incorporated enterprises, owned by central government | -33 | -1 255 | 41 | 2 086 |
Public unincorporated enterprises, owned by local government | 0 | -1 | 0 | 0 |
Public incorporated enterprises, owned by local government | -715 | -195 | -276 | -52 |
Private non-financial incorporated enterprises | 2 795 | -6 601 | 3 357 | 4 505 |
Private non-financial unincorporated enterprises | 1 | -1 | -4 | -8 |
Private non-profit institutions serving enterprises | -204 | 123 | -77 | -86 |
Financial corporations | -6 101 | -39 333 | 21 285 | 15 175 |
Norges Bank | 0 | 0 | 0 | 0 |
Banks | -4 609 | -1 915 | 1 370 | 1 259 |
Mortgage companies | 27 | 236 | -233 | 352 |
Finance companies | 0 | 10 | 17 | 0 |
State lending institutions etc. | -120 | -18 | 1 729 | 590 |
Financial holding companies | -77 | -63 | -315 | -5 |
Mutual funds | 818 | -13 431 | 9 248 | 5 624 |
Investment trusts and private equity funds | 73 | 45 | -75 | 533 |
Other financial enterprises, except insurance companies and pension funds | 3 569 | -5 523 | 4 053 | 2 745 |
Life insurance companies and pension funds | -5 660 | -19 033 | 5 533 | 4 574 |
Non-life insurance companies | -122 | 359 | -42 | -497 |
General government | -1 299 | -540 | 840 | 869 |
Central government | 59 | 6 | 50 | 20 |
Local government | -1 358 | -546 | 790 | 849 |
Non-profit institutions serving households | 368 | -354 | 1 641 | 437 |
Households | 3 788 | -6 290 | 9 154 | 2 820 |
Unincorporated enterprises within households | 1 | 0 | -1 | 3 |
Private non-financial unincorporated enterprises inclusive housing cooperatives etc. | 0 | 0 | 0 | 0 |
Employees, recipients of property income, pensions and social contributions, students etc. | 3 787 | -6 290 | 9 155 | 2 817 |
Rest of the world | 1 918 | -1 773 | 6 628 | 426 |
Unspecified sector | 5 | -1 | 25 | 20 |
Table 3
Mutual Funds' assets. Market value. NOK Million
Sum all assets | Deposits | Short-term debt securities | Short-term debt securities | Short-term debt securities | Long-term debt securities | Long-term debt securities | Long-term debt securities | Shares | Mutual fund shares | Equity certificates | Other assets | |||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Issued by | Issued by | Issued by | Issued by | Equity certificates | ||||||||||
Central government | Other domestic sectors | Rest of the world | Central government | Other domestic sectors | Rest of the world | Domestic sectors | Rest of the world | Domestic sectors | Rest of the world | Equity certificates | ||||
4th quarter 2019 | 1 368 423 | 38 476 | 5 722 | 22 641 | 9 159 | 9 888 | 273 478 | 163 689 | 139 993 | 475 797 | 164 465 | 46 840 | 7 107 | 11 168 |
1st quarter 2020 | 1 184 181 | 54 887 | 5 059 | 10 935 | 1 011 | 6 698 | 248 872 | 174 957 | 100 739 | 395 435 | 136 613 | 32 506 | 5 300 | 11 168 |
2nd quarter 2020 | 1 326 976 | 39 998 | 5 452 | 10 812 | 748 | 7 168 | 270 017 | 205 101 | 123 551 | 451 404 | 158 545 | 36 519 | 6 493 | 11 168 |
3rd quarter 2020 | 1 410 821 | 43 108 | 3 973 | 12 399 | 760 | 7 508 | 277 656 | 210 318 | 137 113 | 492 591 | 172 059 | 35 392 | 6 776 | 11 168 |
Table 4
Outstanding amounts of mutual fund shares, by holding sectors and type of funds. Last quarter (NOK million)
3rd quarter 2020 | |||||||
---|---|---|---|---|---|---|---|
Equity funds | Bond funds | Money market funds | Other bond funds | Hybrid funds | Other funds | All types of funds | |
Sum all holding sectors | 767 077 | 358 129 | 111 565 | 102 797 | 61 121 | 1 727 | 1 402 416 |
Non-financial corporations | 27 232 | 13 638 | 20 208 | 17 089 | 5 761 | 80 | 84 008 |
Public unincorporated enterprises, owned by central government | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Public incorporated enterprises, owned by central government | 9 | 1 697 | 4 773 | 819 | 1 | 0 | 7 299 |
Public unincorporated enterprises, owned by local government | 17 | 8 | 44 | 0 | 0 | 0 | 69 |
Public incorporated enterprises, owned by local government | 200 | 300 | 70 | 435 | 23 | 0 | 1 028 |
Private non-financial incorporated enterprises | 25 840 | 11 236 | 14 126 | 15 303 | 5 663 | 80 | 72 248 |
Private non-financial unincorporated enterprises | 23 | 18 | 5 | 81 | 28 | 0 | 155 |
Private non-profit institutions serving enterprises | 1 143 | 379 | 1 190 | 451 | 46 | 0 | 3 209 |
Financial corporations | 489 667 | 298 210 | 55 614 | 53 594 | 14 472 | 1 640 | 913 197 |
Norges Bank | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Banks | 7 414 | 9 085 | 10 093 | 1 092 | 513 | 0 | 28 197 |
Mortgage companies | 0 | 553 | 0 | 0 | 0 | 0 | 553 |
Finance companies | 3 | 27 | 48 | 0 | 0 | 0 | 78 |
State lending institutions etc. | 7 | 593 | 2 205 | 0 | 0 | 0 | 2 805 |
Financial holding companies | 0 | 3 388 | 126 | 10 | 0 | 0 | 3 524 |
Mutual funds | 129 395 | 27 811 | 5 619 | 9 234 | 0 | 0 | 172 059 |
Investment trusts and private equity funds | 46 | 124 | 749 | 13 | 2 | 0 | 934 |
Other financial enterprises, except insurance companies and pension funds | 60 852 | 23 718 | 12 376 | 14 117 | 7 379 | 4 | 118 446 |
Life insurance companies and pension funds | 286 372 | 226 977 | 23 381 | 27 409 | 6 578 | 1 636 | 572 353 |
Non-life insurance companies | 5 578 | 5 934 | 1 017 | 1 719 | 0 | 0 | 14 248 |
General government | 4 764 | 4 421 | 7 004 | 1 556 | 29 | 0 | 17 774 |
Central government | 3 | 69 | 396 | 347 | 12 | 0 | 827 |
Local government | 4 761 | 4 352 | 6 608 | 1 209 | 17 | 0 | 16 947 |
Non-profit institutions serving households | 17 382 | 11 371 | 5 165 | 3 864 | 693 | 2 | 38 477 |
Households | 127 720 | 6 835 | 7 472 | 11 293 | 38 348 | 4 | 191 672 |
Unincorporated enterprises within households | 12 | 0 | 6 | 1 | 9 | 0 | 28 |
Private non-financial unincorporated enterprises inclusive housing cooperatives etc. | 0 | 1 | 0 | 0 | 0 | 0 | 1 |
Employees, recipients of property income, pensions and social contributions, students etc. | 127 708 | 6 834 | 7 466 | 11 292 | 38 339 | 4 | 191 643 |
Rest of the world | 100 261 | 23 641 | 16 071 | 15 354 | 1 769 | 1 | 157 097 |
Unspecified sector | 51 | 13 | 31 | 47 | 49 | 0 | 191 |
Table 5
Net purchases of Norwegian mutual fund shares, by holding sectors and type of funds. Last quarter. NOK million
3rd quarter 2020 | |||||||
---|---|---|---|---|---|---|---|
All types of funds | Equity funds | Bond funds | Money market funds | Other bond funds | Hybrid funds | Other funds | |
Sum all holding sectors | 26 192 | 13 451 | 6 785 | 5 364 | -99 | 608 | 83 |
Non-financial corporations | 6 445 | 151 | 390 | 5 252 | 584 | -5 | 73 |
Public unincorporated enterprises, owned by central government | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Public incorporated enterprises, owned by central government | 2 086 | -10 | 0 | 2 093 | 3 | 0 | 0 |
Public unincorporated enterprises, owned by local government | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Public incorporated enterprises, owned by local government | -52 | -3 | -27 | -4 | -5 | -13 | 0 |
Private non-financial incorporated enterprises | 4 505 | 176 | 427 | 3 233 | 588 | 8 | 73 |
Private non-financial unincorporated enterprises | -8 | -4 | 0 | 0 | -4 | 0 | 0 |
Private non-profit institutions serving enterprises | -86 | -8 | -10 | -70 | 2 | 0 | 0 |
Financial corporations | 15 175 | 12 536 | 5 624 | -1 278 | -1 971 | 260 | 3 |
Norges Bank | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Banks | 1 259 | 121 | 487 | 907 | -155 | -102 | 0 |
Mortgage companies | 352 | 0 | 352 | 0 | 0 | 0 | 0 |
Finance companies | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
State lending institutions etc. | 590 | 0 | -10 | 600 | 0 | 0 | 0 |
Financial holding companies | -5 | 0 | -5 | 0 | 0 | 0 | 0 |
Mutual funds | 5 624 | 4 304 | 931 | 42 | 347 | 0 | 0 |
Investment trusts and private equity funds | 533 | -2 | 100 | 426 | 9 | 0 | 0 |
Other financial enterprises, except insurance companies and pension funds | 2 745 | 700 | 1 137 | 806 | 47 | 52 | 3 |
Life insurance companies and pension funds | 4 574 | 7 626 | 2 630 | -3 993 | -1 999 | 310 | 0 |
Non-life insurance companies | -497 | -213 | 2 | -66 | -220 | 0 | 0 |
General government | 869 | 1 | 84 | 738 | 46 | 0 | 0 |
Central government | 20 | 0 | 0 | 20 | 0 | 0 | 0 |
Local government | 849 | 1 | 84 | 718 | 46 | 0 | 0 |
Non-profit institutions serving households | 437 | -20 | 170 | 51 | 232 | 3 | 1 |
Households | 2 820 | 2 060 | 13 | 200 | 152 | 391 | 5 |
Unincorporated enterprises within households | 3 | 1 | 0 | 0 | 1 | 1 | 0 |
Private non-financial unincorporated enterprises inclusive housing cooperatives etc. | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Employees, recipients of property income, pensions and social contributions, students etc. | 2 817 | 2 059 | 13 | 200 | 151 | 390 | 5 |
Rest of the world | 426 | -1 279 | 494 | 401 | 850 | -41 | 1 |
Unspecified sector | 20 | 2 | 10 | 0 | 8 | 0 | 0 |
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
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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.
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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
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Name: Mutual funds, quarterly figures
Topic: Banking and financial markets
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Division for Financial Markets Statistics
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National level, no regional divisions.
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Quarterly. Normally published 9-10 weeks after the end of the reference period.
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OECD and BIS
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Time series are stored in a database solution.
Background
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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.
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In addition to Statistics Norway, important users are, public authorities, research institutes and participants in the securities markets.
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Not relevant
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Adapted in accordance with the national accounts’ recommendations.
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The Statistics Act § 2-2.
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Not relevant
Production
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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.
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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.
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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.
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Not relevant
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Statistics Norway’s standard confidentiality rules apply.
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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
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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.
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Not relevant
Contact
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Harald Stormoen
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Steven Chun Wei Got