344001
/en/bank-og-finansmarked/statistikker/vpfondk/kvartal
344001
statistikk
2018-11-23T08:00:00.000Z
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
true

Mutual funds, quarterly figures

Updated

Next update

Key figures

8.8

NOK billions in net purchases/sales

Outstanding amounts and net purchases of mutual fund shares. Market value (NOK million)
4th quarter 20171st quarter 20182nd quarter 20183rd quarter 2018
All sectors
Outstanding amounts1 184 0871 168 8451 204 1291 241 248
Net purchases/sales-23 65927 394-5 6548 775
General government
Outstanding amounts15 54517 19417 61417 055
Net purchases/sales-228944240-98
Financial corporations
Outstanding amounts773 094768 435791 127818 746
Net purchases/sales-17 50019 933-1 2484 396
Non-financial corporations
Outstanding amounts80 86781 89482 80284 473
Net purchases/sales-8614 207-1 2962 055
Households
Outstanding amounts167 896159 089159 104164 205
Net purchases/sales21232-6 077689
Non-profit institutions serving households
Outstanding amounts36 55334 82837 30037 886
Net purchases/sales-1 8574031 4251 486
Rest of the world
Outstanding amounts109 907107 116115 828118 545
Net purchases/sales-3 2531 6321 227291
Unspecified sector
Outstanding amounts225289354338
Net purchases/sales194375-44

See more tables on this subject

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

Holdings of mutual fund shares, by holding sectors. NOK million
4th quarter 20171st quarter 20182nd quarter 20183rd quarter 2018
Total1 184 0871 168 8451 204 1291 241 248
Non-financial corporations80 86781 89482 80284 473
Public unincorporated enterprises, owned by central government0000
Public incorporated enterprises, owned by central government6 4247 9107 4527 386
Public unincorporated enterprises, owned by local government1131136970
Public incorporated enterprises, owned by local government1 7342 1281 7611 745
Private non-financial incorporated enterprises68 75267 87769 56471 199
Private non-financial unincorporated enterprises133154149165
Private non-profit institutions serving enterprises3 7113 7123 8073 908
Financial corporations773 094768 435791 127818 746
Norges Bank0000
Banks37 77630 88731 93131 634
Mortgage companies72437108243
Finance companies83838585
State lending institutions etc.560744581582
Financial holding companies164165166168
Mutual funds153 359150 223152 965156 961
Investment trusts and private equity funds1 010427358329
Other financial enterprises, except insurance companies and pension funds67 45066 97670 74880 189
Life insurance companies and pension funds498 314503 611519 790533 595
Non-life insurance companies14 30614 88214 39514 960
General government15 54517 19417 61417 055
Central government2971 6231 6971 616
Local government15 24815 57115 91715 439
Non-profit institutions serving households36 55334 82837 30037 886
Households167 896159 089159 104164 205
Unincorporated enterprises within households33363738
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.2222
Employees, recipients of property income, pensions and social contributions, students etc.167 861159 051159 065164 165
Rest of the world109 907107 116115 828118 545
Unspecified sector225289354338

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
4th quarter 20171st quarter 20182nd quarter 20183rd quarter 2018
Total-23 65927 394-5 6548 775
Non-financial corporations-8614 207-1 2962 055
Public unincorporated enterprises, owned by central government0000
Public incorporated enterprises, owned by central government-541 506-510-122
Public unincorporated enterprises, owned by local government-852-441
Public incorporated enterprises, owned by local government380418-380-33
Private non-financial incorporated enterprises-8592 126-3681 998
Private non-financial unincorporated enterprises-1024-520
Private non-profit institutions serving enterprises-23313111191
Financial corporations-17 50019 933-1 2484 396
Norges Bank0000
Banks339-5 795629173
Mortgage companies0365-330135
Finance companies-3100
State lending institutions etc.-50185-1670
Financial holding companies2000
Mutual funds-10 0383 317-1 380-567
Investment trusts and private equity funds638-574-71-32
Other financial enterprises, except insurance companies and pension funds3 4751 128494245
Life insurance companies and pension funds-11 50220 325-1214 199
Non-life insurance companies-361981-302243
General government-228944240-98
Central government-403024387
Local government-188642197-185
Non-profit institutions serving households-1 8574031 4251 486
Households21232-6 077689
Unincorporated enterprises within households49-31
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.0000
Employees, recipients of property income, pensions and social contributions, students etc.17223-6 074688
Rest of the world-3 2531 6321 227291
Unspecified sector194375-44

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
4th quarter 20171 190 14338 0883 22326 8266 9168 931256 551128 418120 050398 491153 35939 1365 6384 516
1st quarter 20181 174 90144 6455 34322 6878 04410 365260 395131 141119 242381 611150 22331 3545 3354 516
2nd quarter 20181 210 18543 9945 08819 9687 60310 305260 494135 079128 509396 254152 96539 9455 4664 516
3rd quarter 20181 247 30448 6784 72519 6127 77912 023266 144137 654136 615409 228156 96137 6195 7504 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)
3rd quarter 2018
Equity fundsBond fundsMoney market fundsOther bond fundsHybrid fundsOther fundsAll types of funds
Sum all holding sectors675 432320 874109 15673 85758 5653 3641 241 248
Non-financial corporations28 64318 08519 43710 3186 8141 17684 473
Public unincorporated enterprises, owned by central government0000000
Public incorporated enterprises, owned by central government5491 8923 6031 339307 386
Public unincorporated enterprises, owned by local government1984300070
Public incorporated enterprises, owned by local government31634375030927..1 745
Private non-financial incorporated enterprises26 55015 06713 4978 1876 7221 17671 199
Private non-financial unincorporated enterprises325725519..165
Private non-profit institutions serving enterprises1 1777181 54242843..3 908
Financial corporations440 708261 34456 63144 38113 6981 985818 746
Norges Bank0000000
Banks10 5268 1028 8712 5471 589..31 634
Mortgage companies02430000243
Finance companies3810..1085
State lending institutions etc.0361221000582
Financial holding companies46..122....0168
Mutual funds109 58928 5919 3479 41222..156 961
Investment trusts and private equity funds4419254624329
Other financial enterprises, except insurance companies and pension funds46 31511 8758 6026 4996 34255680 189
Life insurance companies and pension funds267 813206 44027 58624 5905 7411 425533 595
Non-life insurance companies6 3725 6321 6281 3271..14 960
General government5 0914 6605 9361 31256..17 055
Central government38555745820610..1 616
Local government4 7064 1035 4781 10646..15 439
Non-profit institutions serving households16 25711 0576 7642 9637658037 886
Households108 7555 5857 2247 35935 172109164 205
Unincorporated enterprises within households14011013..38
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.020..002
Employees, recipients of property income, pensions and social contributions, students etc.108 7415 5837 2137 35935 159109164 165
Rest of the world75 94120 07313 1347 5071 87614118 545
Unspecified sector37703017184..338

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
3rd quarter 2018
All types of fundsEquity fundsBond fundsMoney market fundsOther bond fundsHybrid fundsOther funds
Sum all holding sectors8 7751 4781 3104 4271 637-10124
 
Non-financial corporations2 05579921 557-293-2157
Public unincorporated enterprises, owned by central government0000000
Public incorporated enterprises, owned by central government-122-130-15365-34200
Public unincorporated enterprises, owned by local government1100000
Public incorporated enterprises, owned by local government-33-7-37102-1..
Private non-financial incorporated enterprises1 9981891 04895313-2127
Private non-financial unincorporated enterprises200-5-1036-1..
Private non-profit institutions serving enterprises191-461239-2-1..
Financial corporations4 3961 377-701 8471 224134
Norges Bank0000000
Banks173-55-3024121117..
Mortgage companies13501350000
Finance companies0000..00
State lending institutions etc.0000000
Financial holding companies00..0....0
Mutual funds-567132-459-2390-1..
Investment trusts and private equity funds-320-20-11-100
Other financial enterprises, except insurance companies and pension funds245-89-24-52414-94
Life insurance companies and pension funds4 1991 1338261 506718160
Non-life insurance companies243256-226231-180..
General government-98-44-88-67120-19..
Central government8700-381250..
Local government-185-44-88-29-5-19..
Non-profit institutions serving households1 486195266854203-342
Households68916531626812910
Unincorporated enterprises within households100100..
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.0000..00
Employees, recipients of property income, pensions and social contributions, students etc.68816531616812910
Rest of the world291-220-65234317241
Unspecified sector-44-2-410-21..

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