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.

Updated: 22 May 2025
Next update: 25 June 2025

Selected figures from the statistics

  • Mutual funds. NOK million
    Mutual funds. NOK million
    Market value
    2nd quarter 20243rd quarter 20244th quarter 20241st quarter 2025
    All sectors
    Outstanding amounts2 118 3332 146 8622 120 0232 093 930
    Net purchases/sales-881-57 195-72 50945 867
    Financial corporations
    Outstanding amounts1 232 9091 210 9541 159 1811 121 155
    Net purchases/sales-10 357-40 099-71 04850 046
    Households
    Outstanding amounts480 113512 674550 570572 633
    Net purchases/sales10 668-8 76716 134-11 568
    Explanation of symbols
  • Holdings of mutual fund shares by holding sectors. Quarterly figures in NOK million.
    Holdings of mutual fund shares by holding sectors. Quarterly figures in NOK million.
    2nd quarter 20243rd quarter 20244th quarter 20241st quarter 2025
    Total2 118 3332 146 8622 120 0232 093 930
    Non-financial corporations146 262147 572150 840110 795
    Public unincorporated enterprises, owned by central government0000
    Public incorporated enterprises, owned by central government5 2517 6959 9717 492
    Public unincorporated enterprises, owned by local government000220
    Public incorporated enterprises, owned by local government2 2609821 4221 158
    Private non-financial incorporated enterprises132 489131 269131 63594 570
    Private non-financial unincorporated enterprises193199207154
    Private non-profit institutions serving enterprises6 0697 4277 6057 201
    Financial corporations1 232 9091 210 9541 159 1811 121 155
    Norges Bank0000
    Banks48 65240 77928 47238 714
    Mortgage companies2392432 2602 238
    Finance companies92949519
    State lending institutions etc.28302827
    Financial holding companies3 9414 0923 7596 770
    Mutual funds223 622224 912226 056219 032
    Alternative investment funds (AIF) excluding mutal funds8601 028769874
    Other financial enterprises, except insurance companies and pension funds128 82581 37366 10855 090
    Life insurance companies and pension funds802 529836 183810 802776 211
    Non-life insurance companies24 12122 22020 83222 180
    General government20 89519 98519 77518 382
    Central government1 8821 1761 2341 235
    Local government19 01318 80918 54117 147
    Non-profit institutions serving households33 40233 72534 69932 480
    Households480 113512 674550 570572 633
    Unincorporated enterprises within households58383814
    Private non-financial unincorporated enterprises inclusive housing cooperatives etc.2111
    Employees, recipients of property income, pensions and social contributions, students etc.480 053512 635550 531572 618
    Rest of the world196 479157 570139 815130 597
    Unspecified sector8 27364 38265 143107 888
    Explanation of symbols
  • Net purchases of mutual fund shares by purchasing sectors. Quarterly figures in NOK million.
    Net purchases of mutual fund shares by purchasing sectors. Quarterly figures in NOK million.
    Net purchases/sales
    2nd quarter 20243rd quarter 20244th quarter 20241st quarter 2025
    Total-881-57 195-72 50945 867
    Non-financial corporations-710-4 6361 052136
    Public unincorporated enterprises, owned by central government0000
    Public incorporated enterprises, owned by central government1 0201 1572 312-2 275
    Public unincorporated enterprises, owned by local government000232
    Public incorporated enterprises, owned by local government-635-95460-90
    Private non-financial incorporated enterprises-1 518-6 806-1 8752 385
    Private non-financial unincorporated enterprises12515
    Private non-profit institutions serving enterprises4221 106150-131
    Financial corporations-10 357-40 099-71 04850 046
    Norges Bank0000
    Banks2 612-1 680-8 942894
    Mortgage companies2502 00456
    Finance companies0000
    State lending institutions etc.00-11
    Financial holding companies-95885-340-462
    Mutual funds6 016-4 724-7 2316 122
    Alternative investment funds (AIF) excluding mutal funds-1149-24385
    Other financial enterprises, except insurance companies and pension funds-5 995-9 636-7 7241 064
    Life insurance companies and pension funds-11 733-21 521-46 83740 030
    Non-life insurance companies-313-2 672-1 7342 256
    General government-786-984-1 1828
    Central government-447-2419622
    Local government-339-743-1 278-14
    Non-profit institutions serving households-3 173-621351901
    Households10 668-8 76716 134-11 568
    Unincorporated enterprises within households1-21-14
    Private non-financial unincorporated enterprises inclusive housing cooperatives etc.-2000
    Employees, recipients of property income, pensions and social contributions, students etc.10 669-8 74616 135-11 572
    Rest of the world3 951-3 301-15 6732 649
    Unspecified sector-6771 213-2 1433 695
    Explanation of symbols
  • Mutual funds' assets. Market value. Quarterly figures in NOK million.
    Mutual funds' assets. Market value. Quarterly figures in NOK million.
    Holdings
    2nd quarter 20243rd quarter 20244th quarter 20241st quarter 2025
    Shares1 227 5481 253 6491 278 6481 217 316
    Mutual fund shares263 089267 802264 543256 675
    Equity certificates12 11811 65812 16513 213
    Long-term debt securities516 941508 242460 482494 858
    Short-term bonds securities29 77034 74033 35131 711
    Other assets25 11225 11225 11225 112
    Deposits58 12360 02760 09069 412
    Sum all assets2 132 7012 161 2302 134 3902 108 297
    Explanation of symbols
  • Outstanding amounts of mutual fund shares by holding sectors and type of funds. Last quarter in NOK million.
    Outstanding amounts of mutual fund shares by holding sectors and type of funds. Last quarter in NOK million.
    1st quarter 2025
    All types of fundsEquity fundsBond fundsLiquidity fundsOther bond fundsHybrid fundsOther funds
    Sum all holding sectors2 093 9301 399 229324 278154 083136 50174 8554 984
    Non-financial corporations110 79547 3618 85928 46622 8841 5411 684
    Public unincorporated enterprises, owned by central government0000000
    Public incorporated enterprises, owned by central government7 492116366 840410
    Public unincorporated enterprises, owned by local government220127930000
    Public incorporated enterprises, owned by local government1 1581107278818260
    Private non-financial incorporated enterprises94 57043 0815 75820 15922 3771 5201 675
    Private non-financial unincorporated enterprises15465047609
    Private non-profit institutions serving enterprises7 2013 9672 300675245140
    Financial corporations1 121 155747 638254 52552 15258 5355 5562 750
    Norges Bank0000000
    Banks38 71412 4267 91011 4676 872400
    Mortgage companies2 23802501 988000
    Finance companies191036000
    State lending institutions etc.2712411000
    Financial holding companies6 77006 1785068600
    Mutual funds219 032162 24334 5974 23317 95900
    Alternative investment funds (AIF) excluding mutal funds8741687642420060
    Other financial enterprises, except insurance companies and pension funds55 09031 05111 7855 8764 9283741 076
    Life insurance companies and pension funds776 211531 456185 08225 54527 3185 1361 674
    Non-life insurance companies22 18010 2728 6402 0961 17200
    General government18 3825 8975 3425 4121 712163
    Central government1 235501 11211800
    Local government17 1475 8925 3424 3001 594163
    Non-profit institutions serving households32 48014 5628 4194 5054 234373387
    Households572 633415 64822 87630 22738 40565 320156
    Unincorporated enterprises within households14501800
    Private non-financial unincorporated enterprises inclusive housing cooperatives etc.1010000
    Employees, recipients of property income, pensions and social contributions, students etc.572 618415 64322 87530 22638 39765 320156
    Rest of the world130 597116 5995723 5229 6712294
    Unspecified sector107 88851 52423 68529 7991 0601 8200
    Explanation of symbols
  • Net purchases of mutual fund shares by holding sectors and type of funds. Last quarter in NOK million.
    Net purchases of mutual fund shares by holding sectors and type of funds. Last quarter in NOK million.
    1st quarter 2025
    All types of fundsEquity fundsBond fundsLiquidity fundsOther bond fundsHybrid fundsOther funds
    Sum all holding sectors45 86791528 99410 9947 455-2 708217
    Non-financial corporations136-1 206224-6031 45317692
    Public unincorporated enterprises, owned by central government0000000
    Public incorporated enterprises, owned by central government-2 275-3-1-2 272100
    Public unincorporated enterprises, owned by local government232140920000
    Public incorporated enterprises, owned by local government-90-261-72610
    Private non-financial incorporated enterprises2 385-1 0961921 6061 42616592
    Private non-financial unincorporated enterprises15-1015100
    Private non-profit institutions serving enterprises-131-220-601341500
    Financial corporations50 04616 69227 4764 5891 561-28414
    Norges Bank0000000
    Banks894-269-3021 548-61-210
    Mortgage companies560056000
    Finance companies0000000
    State lending institutions etc.1001000
    Financial holding companies-4620-4620000
    Mutual funds6 1223 0602 21419765100
    Alternative investment funds (AIF) excluding mutal funds8500602500
    Other financial enterprises, except insurance companies and pension funds1 064-14588231344-4214
    Life insurance companies and pension funds40 03013 95924 1681 167956-2210
    Non-life insurance companies2 256879761 247-5400
    General government817-117772902
    Central government220021100
    Local government-1417-117562802
    Non-profit institutions serving households901-186293329389-1793
    Households-11 568-13 2384901 5581 982-2 37916
    Unincorporated enterprises within households4-100500
    Private non-financial unincorporated enterprises inclusive housing cooperatives etc.0000000
    Employees, recipients of property income, pensions and social contributions, students etc.-11 572-13 2374901 5581 977-2 37916
    Rest of the world2 649-1601851 3491 306-310
    Unspecified sector3 695-1 0044433 695735-1730
    Explanation of symbols
  • Mutual funds` balance sheet. Annual figures in NOK million.
    Mutual funds` balance sheet. Annual figures in NOK million.
    2020202120222023
    ASSETS
    Equities693 783909 573840 7731 043 751
    Mutual fund shares200 092236 749177 431222 878
    Equity certifikates7 53511 58810 00611 298
    Long-term debt securities516 527538 599502 704547 755
    Short-term debt securities27 89821 99421 28428 727
    Other assets17 7688 78010 16325 111
    Bank deposits in total41 20353 09643 88649 249
    Deposits in domestic banks25 55141 72134 75033 465
    Deposits in foreign banks15 65111 3759 13615 784
    TOTAL ASSETS1 504 8061 780 3791 606 2461 928 771
    LIABILITIES AND EQUITY CAPITAL
    Total paid-in equity capital954 2091 071 6651 058 6201 128 825
    Mutual fund shares at par value821 281945 207984 5131 220 463
    Premium/discount132 928126 45874 108-91 637
    Retained earnings535 498697 367538 844785 576
    Debt15 09911 3478 78214 369
    Tax payable-109-80-86-269
    Allocated to the mutual fund shares’ holders1863703337
    Other debt15 02211 0578 83414 601
    TOTAL LIABILITIES AND EQUITY CAPITAL1 504 8061 780 3791 606 2461 928 771
    Number of mutual funds402404398400
    Explanation of symbols
  • Mutual funds` profit and loss accounts. Annual figures in NOK million.
    Mutual funds` profit and loss accounts. Annual figures in NOK million.
    2020202120222023
    Portfolio income and expenses
    Interest13 41613 17616 52425 522
    Dividend14 34719 56424 57831 222
    Net realized gains on securities48 62994 17127 41846 155
    Net changes in unrealized gains/losses on securities32 60486 792-181 280153 664
    Other investment portfolio income and expenses5 5035 421-4 845671
    NET INVESTMENT PORTFOLIO INCOME114 499219 124-117 605257 234
    Management revenue and costs
    Commision from sale and redemption of mutual fund shares53312918
    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 TAX107 711210 528-125 555249 737
    Tax costs-1 393-1 690-1 987-2 585
    NET INCOME106 318208 838-127 542247 152
    Allocation of Net Income
    Allocated for distribution to mutual fund shares' holders6 40816 3814 8388 883
    Net distributed to mutual fund shares' holders during the year4 9569 0893 0846 219
    Transfer to/from retained earnings94 954183 368-135 464232 050
    TOTAL ALLOCATIONS AND EQUITY TRANSFERS106 318208 838-127 542247 152
    Explanation of symbols
  • Mutual funds` sum of assets by type of funds. Accounting figures. Annual figures in NOK million.
    Mutual funds` sum of assets by type of funds. Accounting figures. Annual figures in NOK million.
    2020202120222023
    TOTAL ASSETS1 504 8061 780 3791 606 2461 928 771
    Equity funds841 8481 080 845956 2431 201 723
    Bond funds370 077357 410320 705344 284
    Liquidity funds115 584134 643132 931161 660
    Other bond funds106 415119 039119 569134 570
    Hybrid funds65 84580 55872 43381 742
    Other funds5 0397 8864 3674 792
    Explanation of symbols
  • Mutual funds` net income by type of funds. Annual figures in NOK million.
    Mutual funds` net income by type of funds. Annual figures in NOK million.
    2020202120222023
    NET INCOME106 318208 838-127 542247 152
    Equity funds82 460196 138-103 968201 511
    Bond funds16 001-528-19 44418 475
    Liquidity funds1 4328601 8777 268
    Other bond funds1 9754 223-1 0579 629
    Hybrid funds4 0507 262-5 1549 623
    Other funds401882204647
    Explanation of symbols
  • Mutual funds` profit and loss accounts by equity funds and all other funds. Last year in NOK million.
    Mutual funds` profit and loss accounts by equity funds and all other funds. Last year in NOK million.
    2023
    Equity fundsAll other funds
    Portfolio income and expenses
    Interest74124 781
    Dividend30 487735
    Net realized gains on securities52 756-6 601
    Net changes in unrealized gains/losses on securities122 15931 505
    Other investment portfolio income and expenses3 822-3 151
    NET INVESTMENT PORTFOLIO INCOME209 96547 269
    Management revenue and costs
    Commision from sale and redemption of mutual fund shares162
    Other income and expenses-183
    Management charges-5 992-1 508
    NET MANAGEMENT INCOME-5 994-1 503
    NET INCOME BEFORE TAX203 97245 765
    Tax costs-2 461-124
    NET INCOME201 51145 641
    Allocation of Net Income
    Allocated for distribution to mutual fund shares' holders58 878
    Net distributed to mutual fund shares' holders during the year516 168
    Transfer to/from retained earnings201 45530 595
    TOTAL ALLOCATIONS AND EQUITY TRANSFERS201 51145 641
    Explanation of symbols

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.

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