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54801
Life insurance companies invest heavily
statistikk
2011-05-26T10:00:00.000Z
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, Q1 2011

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Life insurance companies invest heavily

The total net purchases of mutual fund shares were quite high and amounted to a total of NOK 39 billion at the end of the first quarter of 2011. Life insurance companies net bought NOK 27.0 billion worth of fund shares alone.

Stocks of mutual fund shares in total and by type of mutual fund. Market value in NOK billion

Total net purchases of mutual fund shares amounted to NOK 39 billion in the first quarter of 2011. Money market bond funds were the most popular and their values went up by 14.7 per cent. Investments in bond funds were NOK 13.3 billion and equity bond funds were NOK 6.1 billion.

Life insurance companies invested in money market funds

Life insurance companies invested a total of NOK 27.0 billion in all types of funds. Life insurance companies being the largest owner sector in the mutual funds market, accounted for almost 70 per cent of all net purchases in the first quarter of the year. Life insurance companies placed NOK 10.5 billion in bond funds and NOK 1.7 billion in equity bonds.

Total value of mutual fund shares went up

From the end of the last quarter of 2010 to the end of the first quarter of 2011, the total value of mutual funds increased by 6.6 per cent to NOK 577.4 billion. This can be explained by high net purchases that compensated the slight decrease in the value of the funds’ portfolios.

Net purchases of shares in equity funds by purchasing sector. NOK billion.

The value of the money market funds increased the most; by NOK 16.1 billion. The value of the bond funds went up by NOK 11.4 billion, equity funds by NOK 7.1 billion and hybrid fund shares by NOK 1.3 billion.

Households net purchased hybrid funds

Households net purchased a mere NOK 1.3 billion worth of mutual funds in total during the first quarter of 2011. These were made up of mostly hybrid funds, which amounted to NOK 1.0 billion in money market funds and only NOK 0.3 billion in equity funds.

Higher net purchases of foreign investors

Foreign investors net purchased NOK 3.4 billion worth of mutual funds in the first quarter of 2011. Most of this amount; NOK 3.0 billion, went to purchase equity funds.

Ownership of the life insurance companies increased

At the end of the first quarter of 2011, life insurance companies were still the largest owner sector in mutual funds, with a larger owner share of 34.2 per cent. Households’ owner share went down to 23.5 per cent. Foreign investors’ owner share was up slightly, to 14.3 per cent, at the end of the first quarter of 2011.

Mutual funds shares capital and net purchases. Market value in NOK million
  Q3 2009 Q4 2009 Q1 2010 Q2 2010 Q3 2010 Q4 2010 Q1 2011
Total              
Mutual funds shares capital  407 386  448 739  474 148  446 429  474 825  541 508  577 408
Net purchases 15 711 20 414 12 272 -7 155 3 893 34 721 38 979
General government              
Mutual funds Mutual funds shares capital capital 14 883 14 776 15 323 14 453 14 699 14 569 14 573
Net purchases  232 -457 -129 -624 -153 -605  237
Financial corporations              
Mutual funds shares capital  185 298  200 007  208 280  200 395  213 991  254 141  283 642
Net purchases 5 385 7 720 6 146 -530 3 810 27 491 31 644
Non-financial corporations              
Mutual funds shares capital 46 513 50 666 53 989 49 309 51 473 58 462 61 201
Net purchases 1 478 1 842 1 883 -2 756  157 4 394 2 358
Households              
Mutual funds shares capital  112 277  122 332  128 085  118 545  125 784  136 126  135 468
Net purchases 2 882 3 321 2 313 -2 199 -167 1 155 1 316
Rest of the world              
Mutual funds shares capital 48 415 60 958 68 471 63 727 68 778 78 210 82 525
Net purchases 5 734 7 988 2 058 -1 046  220 2 286 3 427

Adjustments made in the mutual fund statistics due to nominee ownership

In order to show the actual owners in mutual funds, adjustments have been made in the statistical material. This has caused a decrease in banks and financial auxiliaries’ owner share, while employees/households have had their owner share increased.

The adjustments, which include both owner positions and net purchases of mutual fund shares, have been made in all quarters dating back to the first quarter of 2008. In the statistics for the fourth quarter of 2010, owner positions of NOK 15.0 billion have been transferred to employees/households, of which NOK 7.5 billion was transferred from banks and NOK 7.5 billion taken from financial auxiliaries.

Nominee - ownership is where parties other than the beneficial owners are registered in the investment companies’ registers. In this context, this means that banks and financial auxiliaries have been registered as owners on behalf of employees/households.

Revisions

Mutual funds data is revised as from the 1st quarter of 2010 with corrections of sector subdivisions. This mainly affected the household sector and the rest of the world sector.