369898
/en/bank-og-finansmarked/statistikker/vpfondk/kvartal
369898
statistikk
2019-08-22T08:00:00.000Z
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

12.7

NOK billion in net purchases/sales

Outstanding amounts and net purchases of mutual fund shares. Market value (NOK million)
3rd quarter 20184th quarter 20181st quarter 20192nd quarter 2019
All sectors
Outstanding amounts1 241 2501 164 8721 249 0631 284 827
Net purchases/sales8 778-2 11516 37912 702
General government
Outstanding amounts17 05515 14316 25317 344
Net purchases/sales-98-93716945
Financial corporations
Outstanding amounts818 737786 354841 630865 218
Net purchases/sales4 3973 89710 5068 310
Non-financial corporations
Outstanding amounts84 48372 54075 08077 355
Net purchases/sales2 056-2 2207601 762
Households
Outstanding amounts164 204148 233160 884163 993
Net purchases/sales689-3381 830482
Non-profit institutions serving households
Outstanding amounts37 88631 29133 21133 903
Net purchases/sales1 486-1 790932690
Rest of the world
Outstanding amounts118 547110 995121 849126 891
Net purchases/sales292-1 5611 801502
Unspecified sector
Outstanding amounts338316156123
Net purchases/sales-44-10-16611

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
3rd quarter 20184th quarter 20181st quarter 20192nd quarter 2019
Total1 241 2501 164 8721 249 0631 284 827
Non-financial corporations84 48372 54075 08077 355
Public unincorporated enterprises, owned by central government0000
Public incorporated enterprises, owned by central government7 3348 0817 2496 928
Public unincorporated enterprises, owned by local government70687266
Public incorporated enterprises, owned by local government1 7451 8402 5622 205
Private non-financial incorporated enterprises71 26159 21261 56164 773
Private non-financial unincorporated enterprises165156167166
Private non-profit institutions serving enterprises3 9083 1833 4693 217
Financial corporations818 737786 354841 630865 218
Norges Bank0000
Banks31 63428 72428 79030 743
Mortgage companies243123183269
Finance companies85262550
State lending institutions etc.582453359649
Financial holding companies1681661794 008
Mutual funds156 961151 414161 006164 230
Investment trusts and private equity funds329409767223
Other financial enterprises, except insurance companies and pension funds80 17894 34399 318104 626
Life insurance companies and pension funds533 597498 003536 501546 339
Non-life insurance companies14 96012 69314 50214 081
General government17 05515 14316 25317 344
Central government1 616581487527
Local government15 43914 56215 76616 817
Non-profit institutions serving households37 88631 29133 21133 903
Households164 204148 233160 884163 993
Unincorporated enterprises within households38262924
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.2333
Employees, recipients of property income, pensions and social contributions, students etc.164 164148 204160 852163 966
Rest of the world118 547110 995121 849126 891
Unspecified sector338316156123

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
3rd quarter 20184th quarter 20181st quarter 20192nd quarter 2019
Total8 778-2 11516 37912 702
Non-financial corporations2 056-2 2207601 762
Public unincorporated enterprises, owned by central government0000
Public incorporated enterprises, owned by central government-122920-871-367
Public unincorporated enterprises, owned by local government1030
Public incorporated enterprises, owned by local government-33238736-375
Private non-financial incorporated enterprises1 999-2 9997112 798
Private non-financial unincorporated enterprises20-38-1
Private non-profit institutions serving enterprises191-376173-293
Financial corporations4 3973 89710 5068 310
Norges Bank0000
Banks173-1 3081 1392 009
Mortgage companies135-1206685
Finance companies0-63013
State lending institutions etc.0-129-95288
Financial holding companies02103 820
Mutual funds-5676 828662-148
Investment trusts and private equity funds-3283356-549
Other financial enterprises, except insurance companies and pension funds2464 230-1232 368
Life insurance companies and pension funds4 199-4 6217 2661 050
Non-life insurance companies243-1 0051 225-626
General government-98-93716945
Central government87-228-10038
Local government-185135816907
Non-profit institutions serving households1 486-1 790932690
Households689-3381 830482
Unincorporated enterprises within households10-1-6
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.0000
Employees, recipients of property income, pensions and social contributions, students etc.688-3381 831488
Rest of the world292-1 5611 801502
Unspecified sector-44-10-16611

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
3rd quarter 20181 247 30648 6784 72519 6127 72212 023266 023137 801136 615409 319156 96137 5615 7504 516
4th quarter 20181 170 92840 4285 41318 3177 38010 079263 545139 931119 453377 380151 41427 8695 2034 516
1st quarter 20191 255 11941 1235 38917 4379 20810 705265 656147 137128 950419 433161 00639 2015 3584 516
2nd quarter 20191 290 88344 3614 79617 70311 79010 194273 371155 820128 169427 560164 23042 3386 0364 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)
2nd quarter 2019
Equity fundsBond fundsMoney market fundsOther bond fundsHybrid fundsOther fundsAll types of funds
Sum all holding sectors692 228333 312115 66581 73058 3803 5121 284 827
Non-financial corporations25 21216 09518 16210 7065 8981 28277 355
Public unincorporated enterprises, owned by central government0000000
Public incorporated enterprises, owned by central government1571 9304 008830306 928
Public unincorporated enterprises, owned by local government1574400066
Public incorporated enterprises, owned by local government2523149796293102 205
Private non-financial incorporated enterprises23 68313 27611 9978 7405 7951 28264 773
Private non-financial unincorporated enterprises3557640280166
Private non-profit institutions serving enterprises1 0705111 1284674103 217
Financial corporations460 450275 73563 98648 69514 3921 959865 218
Norges Bank0000000
Banks8 4909 1719 4362 6321 014030 743
Mortgage companies02690000269
Finance companies005000050
State lending institutions etc.6256387000649
Financial holding companies473 82712410004 008
Mutual funds119 54724 5099 81710 35700164 230
Investment trusts and private equity funds46171332124223
Other financial enterprises, except insurance companies and pension funds52 17420 44914 4219 9867 044551104 626
Life insurance companies and pension funds274 151211 69928 40624 3496 3301 404546 339
Non-life insurance companies5 9895 5381 2121 3402014 081
General government4 4223 9767 2091 70334017 344
Central government337243231130527
Local government4 4193 9396 9661 47221016 817
Non-profit institutions serving households14 23810 0925 2823 46772110333 903
Households106 8826 9256 9147 62335 497153163 993
Unincorporated enterprises within households110706024
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.0300003
Employees, recipients of property income, pensions and social contributions, students etc.106 8716 9226 9077 62335 491153163 966
Rest of the world80 98920 48414 0819 5171 80515126 891
Unspecified sector3553119330123

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
2nd quarter 2019
All types of fundsEquity fundsBond fundsMoney market fundsOther bond fundsHybrid fundsOther funds
Sum all holding sectors12 702-2 9198 5222 0924 40258718
 
Non-financial corporations1 762-4123411 650377-165-29
Public unincorporated enterprises, owned by central government0000000
Public incorporated enterprises, owned by central government-367-19511-40-14300
Public unincorporated enterprises, owned by local government0000000
Public incorporated enterprises, owned by local government-375-62-368-630
Private non-financial incorporated enterprises2 798-1234192 210489-168-29
Private non-financial unincorporated enterprises-14-51-100
Private non-profit institutions serving enterprises-293-92-86-1533800
Financial corporations8 310-2 8667 6276502 1637316
Norges Bank0000000
Banks2 009-1 0261 0022 084-29-220
Mortgage companies850850000
Finance companies130-1225000
State lending institutions etc.288039249000
Financial holding companies3 82003 8200000
Mutual funds-148-443-9012026500
Investment trusts and private equity funds-5490-2-546-100
Other financial enterprises, except insurance companies and pension funds2 368-343899808959406
Life insurance companies and pension funds1 050-1 0302 486-2 1079887130
Non-life insurance companies-626-24-60017-1900
General government945-899378016100
Central government380042-400
Local government907-899373816500
Non-profit institutions serving households690318-603686130
Households48230466-204836541
Unincorporated enterprises within households-61000-70
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.0000000
Employees, recipients of property income, pensions and social contributions, students etc.48829466-204837241
Rest of the world50210055-1 1521 552-530
Unspecified sector11000560

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