Statistikk innhold
Statistics on
Mutual funds
The statistics cover mutual funds managed by Norwegian fund managers. The annual accounting statistics present information on annual balance sheet and profit and loss accounts of the mutual funds. The quarterly statistics contain information about share capital and net purchases of mutual fund shares by type of fund and holding sector.
Selected figures from the statistics
- Mutual funds. NOK millionDownload table as ...Mutual funds. NOK million
Market value 1st quarter 2024 2nd quarter 2024 3rd quarter 2024 4th quarter 2024 All sectors Outstanding amounts 2 075 498 2 118 333 2 146 862 2 120 023 Net purchases/sales 22 074 -881 -57 195 -72 509 Financial corporations Outstanding amounts 1 222 389 1 232 909 1 210 954 1 159 181 Net purchases/sales 10 985 -10 357 -40 099 -71 048 Households Outstanding amounts 443 395 480 113 512 674 550 570 Net purchases/sales 9 198 10 668 -8 767 16 134 Explanation of symbolsDownload table as ... - Holdings of mutual fund shares by holding sectors. Quarterly figures in NOK million.Download table as ...Holdings of mutual fund shares by holding sectors. Quarterly figures in NOK million.
1st quarter 2024 2nd quarter 2024 3rd quarter 2024 4th quarter 2024 Total 2 075 498 2 118 333 2 146 862 2 120 023 Non-financial corporations 142 558 146 262 147 572 150 840 Public unincorporated enterprises, owned by central government 0 0 0 0 Public incorporated enterprises, owned by central government 4 234 5 251 7 695 9 971 Public unincorporated enterprises, owned by local government 0 0 0 0 Public incorporated enterprises, owned by local government 3 016 2 260 982 1 422 Private non-financial incorporated enterprises 129 541 132 489 131 269 131 635 Private non-financial unincorporated enterprises 186 193 199 207 Private non-profit institutions serving enterprises 5 581 6 069 7 427 7 605 Financial corporations 1 222 389 1 232 909 1 210 954 1 159 181 Norges Bank 0 0 0 0 Banks 43 867 48 652 40 779 28 472 Mortgage companies 211 239 243 2 260 Finance companies 90 92 94 95 State lending institutions etc. 28 28 30 28 Financial holding companies 4 690 3 941 4 092 3 759 Mutual funds 214 014 223 622 224 912 226 056 Alternative investment funds (AIF) excluding mutal funds 869 860 1 028 769 Other financial enterprises, except insurance companies and pension funds 135 815 128 825 81 373 66 108 Life insurance companies and pension funds 798 963 802 529 836 183 810 802 Non-life insurance companies 23 842 24 121 22 220 20 832 General government 22 815 20 895 19 985 19 775 Central government 3 830 1 882 1 176 1 234 Local government 18 985 19 013 18 809 18 541 Non-profit institutions serving households 39 188 33 402 33 725 34 699 Households 443 395 480 113 512 674 550 570 Unincorporated enterprises within households 56 58 38 38 Private non-financial unincorporated enterprises inclusive housing cooperatives etc. 4 2 1 1 Employees, recipients of property income, pensions and social contributions, students etc. 443 335 480 053 512 635 550 531 Rest of the world 204 971 196 479 157 570 139 815 Unspecified sector 182 8 273 64 382 65 143 Explanation of symbolsDownload table as ... - Net purchases of mutual fund shares by purchasing sectors. Quarterly figures in NOK million.Download table as ...Net purchases of mutual fund shares by purchasing sectors. Quarterly figures in NOK million.
Net purchases/sales 1st quarter 2024 2nd quarter 2024 3rd quarter 2024 4th quarter 2024 Total 22 074 -881 -57 195 -72 509 Non-financial corporations 1 415 -710 -4 636 1 052 Public unincorporated enterprises, owned by central government 0 0 0 0 Public incorporated enterprises, owned by central government -88 1 020 1 157 2 312 Public unincorporated enterprises, owned by local government 0 0 0 0 Public incorporated enterprises, owned by local government -1 371 -635 -95 460 Private non-financial incorporated enterprises 2 881 -1 518 -6 806 -1 875 Private non-financial unincorporated enterprises 1 1 2 5 Private non-profit institutions serving enterprises -8 422 1 106 150 Financial corporations 10 985 -10 357 -40 099 -71 048 Norges Bank 0 0 0 0 Banks 2 459 2 612 -1 680 -8 942 Mortgage companies 2 25 0 2 004 Finance companies 3 0 0 0 State lending institutions etc. 1 0 0 -1 Financial holding companies -251 -958 85 -340 Mutual funds 1 365 6 016 -4 724 -7 231 Alternative investment funds (AIF) excluding mutal funds -159 -11 49 -243 Other financial enterprises, except insurance companies and pension funds 2 814 -5 995 -9 636 -7 724 Life insurance companies and pension funds 3 794 -11 733 -21 521 -46 837 Non-life insurance companies 957 -313 -2 672 -1 734 General government -68 -786 -984 -1 182 Central government 297 -447 -241 96 Local government -365 -339 -743 -1 278 Non-profit institutions serving households 445 -3 173 -621 351 Households 9 198 10 668 -8 767 16 134 Unincorporated enterprises within households 6 1 -21 -1 Private non-financial unincorporated enterprises inclusive housing cooperatives etc. 0 -2 0 0 Employees, recipients of property income, pensions and social contributions, students etc. 9 192 10 669 -8 746 16 135 Rest of the world 83 3 951 -3 301 -15 673 Unspecified sector 16 -677 1 213 -2 143 Explanation of symbolsDownload table as ... - Mutual funds' assets. Market value. Quarterly figures in NOK million.Download table as ...Mutual funds' assets. Market value. Quarterly figures in NOK million.
Holdings 1st quarter 2024 2nd quarter 2024 3rd quarter 2024 4th quarter 2024 Shares 1 187 348 1 227 548 1 253 649 1 278 648 Mutual fund shares 248 628 263 089 267 802 264 543 Equity certificates 11 444 12 118 11 658 12 165 Long-term debt securities 536 529 516 941 508 242 460 482 Short-term bonds securities 24 992 29 770 34 740 33 351 Other assets 25 112 25 112 25 112 25 112 Deposits 55 814 58 123 60 027 60 090 Sum all assets 2 089 866 2 132 701 2 161 230 2 134 390 Explanation of symbolsDownload table as ... - Outstanding amounts of mutual fund shares by holding sectors and type of funds. Last quarter in NOK million.Download table as ...Outstanding amounts of mutual fund shares by holding sectors and type of funds. Last quarter in NOK million.
4th quarter 2024 All types of funds Equity funds Bond funds Liquidity funds Other bond funds Hybrid funds Other funds Sum all holding sectors 2 120 023 1 469 249 294 899 143 727 130 037 77 672 4 439 Non-financial corporations 150 840 65 460 11 639 36 798 26 791 8 705 1 447 Public unincorporated enterprises, owned by central government 0 0 0 0 0 0 0 Public incorporated enterprises, owned by central government 9 971 24 640 9 303 3 1 0 Public unincorporated enterprises, owned by local government 0 0 0 0 0 0 0 Public incorporated enterprises, owned by local government 1 422 150 103 920 193 56 0 Private non-financial incorporated enterprises 131 635 60 836 8 539 26 021 26 221 8 579 1 439 Private non-financial unincorporated enterprises 207 80 0 3 87 29 8 Private non-profit institutions serving enterprises 7 605 4 370 2 357 551 287 40 0 Financial corporations 1 159 181 800 126 235 329 53 937 59 315 7 874 2 600 Norges Bank 0 0 0 0 0 0 0 Banks 28 472 8 813 7 843 9 505 2 172 139 0 Mortgage companies 2 260 0 246 2 014 0 0 0 Finance companies 95 10 30 54 0 1 0 State lending institutions etc. 28 13 4 11 0 0 0 Financial holding companies 3 759 0 3 175 500 84 0 0 Mutual funds 226 056 170 984 32 782 4 078 18 212 0 0 Alternative investment funds (AIF) excluding mutal funds 769 158 75 359 171 6 0 Other financial enterprises, except insurance companies and pension funds 66 108 38 476 11 445 6 732 6 370 2 130 956 Life insurance companies and pension funds 810 802 570 775 171 911 29 820 31 080 5 571 1 644 Non-life insurance companies 20 832 10 897 7 818 864 1 226 27 0 General government 19 775 6 243 5 833 5 933 1 729 35 2 Central government 1 234 4 0 1 106 116 8 0 Local government 18 541 6 239 5 833 4 827 1 613 27 2 Non-profit institutions serving households 34 699 16 413 8 227 4 639 4 437 721 262 Households 550 570 427 508 19 250 17 528 28 893 57 266 124 Unincorporated enterprises within households 38 17 0 2 7 12 0 Private non-financial unincorporated enterprises inclusive housing cooperatives etc. 1 0 1 0 0 0 0 Employees, recipients of property income, pensions and social contributions, students etc. 550 531 427 491 19 249 17 526 28 886 57 254 124 Rest of the world 139 815 125 516 1 952 2 934 8 392 1 017 4 Unspecified sector 65 143 27 983 12 669 21 958 480 2 054 0 Explanation of symbolsDownload table as ... - Net purchases of mutual fund shares by holding sectors and type of funds. Last quarter in NOK million.Download table as ...Net purchases of mutual fund shares by holding sectors and type of funds. Last quarter in NOK million.
4th quarter 2024 All types of funds Equity funds Bond funds Liquidity funds Other bond funds Hybrid funds Other funds Sum all holding sectors -72 509 -22 306 -13 069 -14 809 -20 214 -2 138 27 Non-financial corporations 1 052 1 783 656 -3 279 1 649 254 -11 Public unincorporated enterprises, owned by central government 0 0 0 0 0 0 0 Public incorporated enterprises, owned by central government 2 312 0 -11 2 324 -1 0 0 Public unincorporated enterprises, owned by local government 0 0 0 0 0 0 0 Public incorporated enterprises, owned by local government 460 1 47 425 -14 1 0 Private non-financial incorporated enterprises -1 875 1 809 355 -5 927 1 653 246 -11 Private non-financial unincorporated enterprises 5 3 0 0 2 0 0 Private non-profit institutions serving enterprises 150 -30 265 -101 9 7 0 Financial corporations -71 048 -45 287 -6 706 -5 992 -9 879 -3 218 36 Norges Bank 0 0 0 0 0 0 0 Banks -8 942 -3 074 -352 215 -2 599 -3 131 0 Mortgage companies 2 004 0 4 2 000 0 0 0 Finance companies 0 0 0 0 0 0 0 State lending institutions etc. -1 0 0 -1 0 0 0 Financial holding companies -340 0 -324 -23 7 0 0 Mutual funds -7 231 -7 794 -367 247 683 0 0 Alternative investment funds (AIF) excluding mutal funds -243 0 4 -289 42 0 0 Other financial enterprises, except insurance companies and pension funds -7 724 -630 -1 842 -1 648 -3 684 44 36 Life insurance companies and pension funds -46 837 -33 718 -3 386 -5 322 -4 278 -132 0 Non-life insurance companies -1 734 -71 -443 -1 171 -50 1 0 General government -1 182 -574 310 -6 -910 3 -5 Central government 96 0 -15 46 65 0 0 Local government -1 278 -574 325 -52 -975 3 -5 Non-profit institutions serving households 351 163 528 -469 149 -20 0 Households 16 134 13 768 1 456 -801 799 904 7 Unincorporated enterprises within households -1 0 0 0 -1 0 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. 16 135 13 768 1 456 -801 800 904 7 Rest of the world -15 673 5 309 -3 893 -4 286 -12 771 -32 0 Unspecified sector -2 143 2 532 -5 420 24 749 -29 0 Explanation of symbolsDownload table as ... - Mutual funds` balance sheet. Annual figures in NOK million.Download table as ...Mutual funds` balance sheet. Annual figures in NOK million.
2020 2021 2022 2023 ASSETS Equities 693 783 909 573 840 773 1 043 751 Mutual fund shares 200 092 236 749 177 431 222 878 Equity certifikates 7 535 11 588 10 006 11 298 Long-term debt securities 516 527 538 599 502 704 547 755 Short-term debt securities 27 898 21 994 21 284 28 727 Other assets 17 768 8 780 10 163 25 111 Bank deposits in total 41 203 53 096 43 886 49 249 Deposits in domestic banks 25 551 41 721 34 750 33 465 Deposits in foreign banks 15 651 11 375 9 136 15 784 TOTAL ASSETS 1 504 806 1 780 379 1 606 246 1 928 771 LIABILITIES AND EQUITY CAPITAL Total paid-in equity capital 954 209 1 071 665 1 058 620 1 128 825 Mutual fund shares at par value 821 281 945 207 984 513 1 220 463 Premium/discount 132 928 126 458 74 108 -91 637 Retained earnings 535 498 697 367 538 844 785 576 Debt 15 099 11 347 8 782 14 369 Tax payable -109 -80 -86 -269 Allocated to the mutual fund shares’ holders 186 370 33 37 Other debt 15 022 11 057 8 834 14 601 TOTAL LIABILITIES AND EQUITY CAPITAL 1 504 806 1 780 379 1 606 246 1 928 771 Number of mutual funds 402 404 398 400 Explanation of symbolsDownload table as ... - Mutual funds` profit and loss accounts. Annual figures in NOK million.Download table as ...Mutual funds` profit and loss accounts. Annual figures in NOK million.
2020 2021 2022 2023 Portfolio income and expenses Interest 13 416 13 176 16 524 25 522 Dividend 14 347 19 564 24 578 31 222 Net realized gains on securities 48 629 94 171 27 418 46 155 Net changes in unrealized gains/losses on securities 32 604 86 792 -181 280 153 664 Other investment portfolio income and expenses 5 503 5 421 -4 845 671 NET INVESTMENT PORTFOLIO INCOME 114 499 219 124 -117 605 257 234 Management revenue and costs Commision from sale and redemption of mutual fund shares 53 31 29 18 Other income and expenses -88 -51 -118 -15 Management charges -6 754 -8 576 -7 862 -7 500 NET MANAGEMENT INCOME -6 789 -8 596 -7 951 -7 497 NET INCOME BEFORE TAX 107 711 210 528 -125 555 249 737 Tax costs -1 393 -1 690 -1 987 -2 585 NET INCOME 106 318 208 838 -127 542 247 152 Allocation of Net Income Allocated for distribution to mutual fund shares' holders 6 408 16 381 4 838 8 883 Net distributed to mutual fund shares' holders during the year 4 956 9 089 3 084 6 219 Transfer to/from retained earnings 94 954 183 368 -135 464 232 050 TOTAL ALLOCATIONS AND EQUITY TRANSFERS 106 318 208 838 -127 542 247 152 Explanation of symbolsDownload table as ... - Mutual funds` sum of assets by type of funds. Accounting figures. Annual figures in NOK million.Download table as ...Mutual funds` sum of assets by type of funds. Accounting figures. Annual figures in NOK million.
2020 2021 2022 2023 TOTAL ASSETS 1 504 806 1 780 379 1 606 246 1 928 771 Equity funds 841 848 1 080 845 956 243 1 201 723 Bond funds 370 077 357 410 320 705 344 284 Liquidity funds 115 584 134 643 132 931 161 660 Other bond funds 106 415 119 039 119 569 134 570 Hybrid funds 65 845 80 558 72 433 81 742 Other funds 5 039 7 886 4 367 4 792 Explanation of symbolsDownload table as ... - Mutual funds` net income by type of funds. Annual figures in NOK million.Download table as ...Mutual funds` net income by type of funds. Annual figures in NOK million.
2020 2021 2022 2023 NET INCOME 106 318 208 838 -127 542 247 152 Equity funds 82 460 196 138 -103 968 201 511 Bond funds 16 001 -528 -19 444 18 475 Liquidity funds 1 432 860 1 877 7 268 Other bond funds 1 975 4 223 -1 057 9 629 Hybrid funds 4 050 7 262 -5 154 9 623 Other funds 401 882 204 647 Explanation of symbolsDownload table as ... - Mutual funds` profit and loss accounts by equity funds and all other funds. Last year in NOK million.Download table as ...Mutual funds` profit and loss accounts by equity funds and all other funds. Last year in NOK million.
2023 Equity funds All other funds Portfolio income and expenses Interest 741 24 781 Dividend 30 487 735 Net realized gains on securities 52 756 -6 601 Net changes in unrealized gains/losses on securities 122 159 31 505 Other investment portfolio income and expenses 3 822 -3 151 NET INVESTMENT PORTFOLIO INCOME 209 965 47 269 Management revenue and costs Commision from sale and redemption of mutual fund shares 16 2 Other income and expenses -18 3 Management charges -5 992 -1 508 NET MANAGEMENT INCOME -5 994 -1 503 NET INCOME BEFORE TAX 203 972 45 765 Tax costs -2 461 -124 NET INCOME 201 511 45 641 Allocation of Net Income Allocated for distribution to mutual fund shares' holders 5 8 878 Net distributed to mutual fund shares' holders during the year 51 6 168 Transfer to/from retained earnings 201 455 30 595 TOTAL ALLOCATIONS AND EQUITY TRANSFERS 201 511 45 641 Explanation of symbolsDownload table as ...
About the statistics
The information under «About the statistics» was last updated 3 January 2022.
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.
Balance sheet: The balance sheet shows assets, liabilities and equity at the end of the financial year.
Profit and loss account: Shows income and expenses over the course of the calendar year.
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.
Valuation
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 observed transaction rates or annual tax assessment rates are used.
Financial instruments and fixed assets: liabilities, claims and other assets in the unit trust's balance sheets are divided into main groups with a view to providing uniform groups.
Debtor and creditor sector: In compiling the statistics, the actors are grouped into sectors, primarily by socio-economic function, such as general government, financial enterprises, non-financial enterprises, households and the rest of the world.
Income and expense types: including, inter alia, interest and share dividends, are based on national accounts rules.
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 (System of National Accounts) /ESA2010 (European System of Accounts) and NACE Rev.2 (European Classification of Economic Activities) from the 4th quarter of 2006.
Name: Mutual funds
Topic: Banking and financial markets
Division for Financial Markets Statistics
Only at the national level
The accounting statistics is published annually in September the following year.
The statistics about share capital and net purchases is published quarterly, normally 8-9 weeks after the end of the reference period.
OECD and BIS
Time series are stored in a database solution.
The annual accounting statistics:
The purpose is to contribute accounting data to the financial market statistics and national accounts, and for supervisory and control purposes at the Banking, Insurance and Securities Commission and Norges Bank. Officially, Statistics Norway started the unit trust statistics in 1990. The statistics are based on the cooperation of the Banking, Insurance and Securities Commission, Norges Bank and Statistics Norway. Until 1994 Statistics Norway did the collection, processing, storage and presentation of the data. After 1994 Norges Bank had responsibility for collecting, processing, storage and presentation for unit trusts. Since January 2007 Statistics Norway has had the responsibility for unit trusts. Since 1996 Statistics Norway has published profit and loss figures in addition to previously published annual balance sheets with sector specification of certain financial instruments.
The statistics about share capital and net purchases:
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.
In addition to Statistics Norway, important users are public authorities, research institutes and participants in the securities markets.
No external users have access to the statistics before they are published and accessible simultaneously for all users on ssb.no. Prior to this, a minimum of three months' advance notice is given in the Statistics Release Calendar.
The statistics are based on the guidelines in the System of National Accounts from 2008 (SNA 2008), European System of Accounts from 2010 (ESA 2010) and the IMF's Manual on Monetary and Financial Statistics.
The Statistics Act § 10
Not relevant
The population is all mutual funds licensed by the Banking, Insurance and Securities Commission.
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.
- Central posts from mutual funds’ annual balance sheet and profit and loss accounts.
The annual accounting statistics:
Statistics Norway collects accounting data from all mutual funds registered in Norway.
The statistics about share capital and net purchases:
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.
The annual accounting statistics:
For mutual funds, Statistics Norway publishes annual balance sheet figures by financial instrument and type of fund, figures on holdings of securities by debtor sector and type of fund, and participation capital figures at face value by creditor sector. Profit and loss figures have also been published since 1996.
Statistics Norway control and revise the accounting data against published annual accounts and other consecutive sources.
The statistics about share capital and net purchases:
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.
Statistics Norway’s standard confidentiality rules apply.
The accounts statistics for unit trusts are, as far as possible, based on current accounting rules. Breaks can therefore occur in connection with changes in accounting legislation.
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:
2021: Statistics Norway does not longer publish market value of unlisted shares registered in VPS. This means that these unlisted shares are not included in the balance sheet in the quarterly statistics.
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.
The annual accounting statistics:
Errors and discrepancies can occur in accounting data. These discrepancies can have several sources: Errors in transferring the data from the companies' primary accounts to receiving media, different accounting and estimation principles, different entry times or incompletely filled out reports from respondents.
The statistics about share capital and net purchases:
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.
In cases where an owner of share capital is registered on a nominee account of a financial enterprise, others than the genuine owners will be registered in the share holder register. This can to some extent cause the application of sectors to owners of holdings and transactions to be imperfect.
Data may be revised in future publications.