Mutual funds, quarterly figures

Updated: 19 November 2021

Next update: 21 February 2022

Net purchases/sales
Net purchases/sales
3rd quarter 2021
-22 234
NOK million

Selected tables and figures from this statistics

Holdings of mutual fund shares, by holding sectors. NOK million
Holdings of mutual fund shares, by holding sectors. NOK million
4th quarter 20201st quarter 20212nd quarter 20213rd quarter 2021
Total1 484 0871 587 9111 689 3541 683 127
Non-financial corporations89 775101 940108 659114 119
Public unincorporated enterprises, owned by central government0000
Public incorporated enterprises, owned by central government7 8597 6656 9487 019
Public unincorporated enterprises, owned by local government56575859
Public incorporated enterprises, owned by local government1 0742 1952 1182 270
Private non-financial incorporated enterprises77 56988 43495 775100 783
Private non-financial unincorporated enterprises151139117103
Private non-profit institutions serving enterprises3 0663 4503 6433 885
Financial corporations946 2451 001 2551 047 2201 013 360
Norges Bank0000
Banks27 69131 78736 60434 483
Mortgage companies177239189192
Finance companies79808080
State lending institutions etc.3 0602 8542 6702 685
Financial holding companies5 0295 4815 3575 010
Mutual funds173 751187 905204 344185 597
Investment trusts and private equity funds7701 0421 1621 561
Other financial enterprises, except insurance companies and pension funds91 42092 50996 04690 091
Life insurance companies and pension funds629 162662 009682 782675 618
Non-life insurance companies15 10617 34917 98618 043
General government18 26819 80619 85819 571
Central government735741570597
Local government17 53319 06519 28818 974
Non-profit institutions serving households38 86240 76543 06344 337
Households237 860254 722278 083311 417
Unincorporated enterprises within households30343635
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.2222
Employees, recipients of property income, pensions and social contributions, students etc.237 828254 686278 045311 380
Rest of the world152 891169 192192 343180 157
Unspecified sector186231128166
Explanation of symbols
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 20201st quarter 20212nd quarter 20213rd quarter 2021
Total17 42857 67724 163-22 234
Non-financial corporations2 8759 7703 5563 996
Public unincorporated enterprises, owned by central government0000
Public incorporated enterprises, owned by central government582-184-734-5
Public unincorporated enterprises, owned by local government0100
Public incorporated enterprises, owned by local government181 108-99117
Private non-financial incorporated enterprises2 4668 6144 3133 690
Private non-financial unincorporated enterprises-6-13-7-7
Private non-profit institutions serving enterprises-18524483201
Financial corporations3 54427 6022 274-31 033
Norges Bank0000
Banks-8643 0651 455-341
Mortgage companies-37562-503
Finance companies0100
State lending institutions etc.271-192-19012
Financial holding companies-2177-10-356
Mutual funds-5 9077 2065 208-21 052
Investment trusts and private equity funds-202-43104376
Other financial enterprises, except insurance companies and pension funds2 409-122481 479
Life insurance companies and pension funds7 79315 754-4 219-11 104
Non-life insurance companies4401 794-72-50
General government1311 261-278-386
Central government-883-9323
Local government2191 258-185-409
Non-profit institutions serving households-9171 535647842
Households6347 0657 6556 497
Unincorporated enterprises within households141-2
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.0000
Employees, recipients of property income, pensions and social contributions, students etc.6337 0617 6546 499
Rest of the world11 17910 40110 274-2 152
Unspecified sector-1843352
Explanation of symbols
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 20201 499 18641 2025 49315 0967268 242288 478204 430162 260523 205173 75150 9537 60517 745
1st quarter 20211 603 01051 1675 47114 4691 1818 120300 138210 884172 100582 493187 90543 0948 24317 745
2nd quarter 20211 704 45352 6485 65014 5258807 250304 546216 348180 547647 399204 34443 0409 53117 745
3rd quarter 20211 698 22655 4984 59514 0556068 422314 087210 927181 683656 643185 59737 96610 40217 745
Explanation of symbols
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 2021
All types of fundsEquity fundsBond fundsMoney market fundsOther bond fundsHybrid fundsOther funds
Sum all holding sectors1 683 127989 133358 101132 798119 69276 6886 715
Non-financial corporations114 11938 65014 53832 88617 9387 9162 191
Public unincorporated enterprises, owned by central government0000000
Public incorporated enterprises, owned by central government7 01981 6884 48084210
Public unincorporated enterprises, owned by local government5914045000
Public incorporated enterprises, owned by local government2 2702433141 279405290
Private non-financial incorporated enterprises100 78336 99811 90725 78216 1117 8002 185
Private non-financial unincorporated enterprises103130750276
Private non-profit institutions serving enterprises3 8851 3746291 293530590
Financial corporations1 013 360582 137293 18262 61261 73010 5853 113
Norges Bank0000000
Banks34 4838 59811 8439 6124 0713580
Mortgage companies19201920000
Finance companies8062747000
State lending institutions etc.2 68593712 305000
Financial holding companies5 01004 8471273600
Mutual funds185 597135 97231 6565 54412 42500
Investment trusts and private equity funds1 561102169501391245
Other financial enterprises, except insurance companies and pension funds90 09143 36218 05814 20510 7192 782965
Life insurance companies and pension funds675 618386 921218 90928 30932 1447 4321 903
Non-life insurance companies18 0437 2597 0631 5132 196120
General government19 5715 4274 2508 2341 5905119
Central government597429286260180
Local government18 9745 4234 2217 9481 3303319
Non-profit institutions serving households44 33719 81812 4166 3173 9068671 013
Households311 417213 76816 5569 80815 91255 013361
Unincorporated enterprises within households3514051150
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.2011000
Employees, recipients of property income, pensions and social contributions, students etc.311 380213 75416 5559 80215 91154 998361
Rest of the world180 157129 29817 14712 91318 5742 20718
Unspecified sector16635122842490
Explanation of symbols
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 2021
All types of fundsEquity fundsBond fundsMoney market fundsOther bond fundsHybrid fundsOther funds
Sum all holding sectors-22 234-25 542-8 1206 4302 3111 4501 237
Non-financial corporations3 9963333 650298-8496
Public unincorporated enterprises, owned by central government0000000
Public incorporated enterprises, owned by central government-500-5000
Public unincorporated enterprises, owned by local government0000000
Public incorporated enterprises, owned by local government1172-80269-73-10
Private non-financial incorporated enterprises3 690621033 175349-9596
Private non-financial unincorporated enterprises-7-500-200
Private non-profit institutions serving enterprises201-26-2021124120
Financial corporations-31 033-24 651-10 3222 4521 17827282
Norges Bank0000000
Banks-341-596-48019200
Mortgage companies3030000
Finance companies0000000
State lending institutions etc.120-5567000
Financial holding companies-3560-3500-600
Mutual funds-21 052-22 5165015091300
Investment trusts and private equity funds37621991711020-98
Other financial enterprises, except insurance companies and pension funds1 479-1 5094042 518-313-2380
Life insurance companies and pension funds-11 104-359-11 193176244280
Non-life insurance companies-50-210163-504610
General government-386-115-151-77-58105
Central government230087-6400
Local government-409-115-151-1646105
Non-profit institutions serving households842-911388429103-28861
Households6 4973 6761 151-211311 568-7
Unincorporated enterprises within households-21000-30
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.0000000
Employees, recipients of property income, pensions and social contributions, students etc.6 4993 6751 151-211311 571-7
Rest of the world-2 152-3 576811-2659-440
Unspecified sector220-1010
Explanation of symbols

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 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.

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.

Name: Mutual funds, quarterly figures

Topic: Banking and financial markets

21 February 2022

Division for Financial Markets Statistics

National level, no regional divisions.

Quarterly. Normally published 9-10 weeks after the end of the reference period.

OECD and BIS

Time series are stored in a database solution.

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.

Not relevant

Adapted in accordance with the national accounts’ recommendations.

The Statistics Act § 2-2.

Not relevant

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.

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.

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.

Not relevant

Statistics Norway’s standard confidentiality rules apply.

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.

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.

Not relevant





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