369902
/en/bank-og-finansmarked/statistikker/vpfondk/kvartal
369902
statistikk
2019-11-21T08:00:00.000Z
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

Updated

Next update

Key figures

-7.1

NOK billions in net purchases/sales

Outstanding amounts and net purchases of mutual fund shares. Market value (NOK million)
4th quarter 20181st quarter 20192nd quarter 20193rd quarter 2019
All sectors
Outstanding amounts1 164 8731 249 0641 284 8221 312 836
Net purchases/sales-2 11816 38012 699-7 149
General government
Outstanding amounts15 14316 25317 34417 479
Net purchases/sales-93716945-128
Financial corporations
Outstanding amounts786 355841 631865 215881 287
Net purchases/sales3 89610 5098 310-8 847
Non-financial corporations
Outstanding amounts72 53975 08077 35378 921
Net purchases/sales-2 2227591 760-140
Households
Outstanding amounts148 233160 883163 994168 409
Net purchases/sales-3381 830480362
Non-profit institutions serving households
Outstanding amounts31 29233 21033 90233 788
Net purchases/sales-1 790931691-479
Rest of the world
Outstanding amounts110 995121 851126 890132 834
Net purchases/sales-1 5611 8015022 091
Unspecified sector
Outstanding amounts316156124118
Net purchases/sales-10-16611-8

See selected tables from this statistics

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

Holdings of mutual fund shares, by holding sectors. NOK million
4th quarter 20181st quarter 20192nd quarter 20193rd quarter 2019
Total1 164 8731 249 0641 284 8221 312 836
Non-financial corporations72 53975 08077 35378 921
Public unincorporated enterprises, owned by central government0000
Public incorporated enterprises, owned by central government8 0817 2506 9276 467
Public unincorporated enterprises, owned by local government68726666
Public incorporated enterprises, owned by local government1 8402 5612 2052 258
Private non-financial incorporated enterprises59 21161 56164 77166 358
Private non-financial unincorporated enterprises156167167164
Private non-profit institutions serving enterprises3 1833 4693 2173 608
Financial corporations786 355841 631865 215881 287
Norges Bank0000
Banks28 72328 79130 74231 035
Mortgage companies123183269170
Finance companies26255050
State lending institutions etc.453359649616
Financial holding companies1661794 0083 508
Mutual funds151 415161 005164 230157 212
Investment trusts and private equity funds409767223545
Other financial enterprises, except insurance companies and pension funds94 34499 318104 625107 225
Life insurance companies and pension funds498 003536 502546 338566 806
Non-life insurance companies12 69314 50214 08114 120
General government15 14316 25317 34417 479
Central government581487527679
Local government14 56215 76616 81716 800
Non-profit institutions serving households31 29233 21033 90233 788
Households148 233160 883163 994168 409
Unincorporated enterprises within households26292524
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.3334
Employees, recipients of property income, pensions and social contributions, students etc.148 204160 851163 966168 381
Rest of the world110 995121 851126 890132 834
Unspecified sector316156124118

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 20181st quarter 20192nd quarter 20193rd quarter 2019
Total-2 11816 38012 699-7 149
Non-financial corporations-2 2227591 760-140
Public unincorporated enterprises, owned by central government0000
Public incorporated enterprises, owned by central government920-871-367-500
Public unincorporated enterprises, owned by local government0300
Public incorporated enterprises, owned by local government238736-37522
Private non-financial incorporated enterprises-3 0017092 7978
Private non-financial unincorporated enterprises-39-2-3
Private non-profit institutions serving enterprises-376173-293333
Financial corporations3 89610 5098 310-8 847
Norges Bank0000
Banks-1 3091 1412 00873
Mortgage companies-1206685-100
Finance companies-630130
State lending institutions etc.-129-95288-35
Financial holding companies2103 820-518
Mutual funds6 827662-147-13 092
Investment trusts and private equity funds83356-549319
Other financial enterprises, except insurance companies and pension funds4 230-1212 368958
Life insurance companies and pension funds-4 6207 2651 0503 859
Non-life insurance companies-1 0051 225-626-311
General government-93716945-128
Central government-228-10038146
Local government135816907-274
Non-profit institutions serving households-1 790931691-479
Households-3381 830480362
Unincorporated enterprises within households0-1-6-2
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.0000
Employees, recipients of property income, pensions and social contributions, students etc.-3381 831486364
Rest of the world-1 5611 8015022 091
Unspecified sector-10-16611-8

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 20181 171 49335 9105 41318 3177 39210 079263 544139 871119 453377 378151 41536 2425 2031 276
1st quarter 20191 255 68439 0735 38917 4379 21910 705265 653147 047128 950419 431161 00545 1415 3581 276
2nd quarter 20191 291 44242 3114 79617 70411 80110 194273 351156 027128 169427 621164 23047 9266 0361 276
3rd quarter 20191 319 45640 9914 92118 34611 85810 065275 239165 024130 103455 291157 21242 9626 1671 276

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 2019
Equity fundsBond fundsMoney market fundsOther bond fundsHybrid fundsOther fundsAll types of funds
Sum all holding sectors704 607335 510117 57293 01758 6463 4841 312 836
Non-financial corporations25 95612 05517 88615 8855 8731 26678 921
Public unincorporated enterprises, owned by central government0000000
Public incorporated enterprises, owned by central government421 8673 768789106 467
Public unincorporated enterprises, owned by local government1574400066
Public incorporated enterprises, owned by local government2663161 0006453102 258
Private non-financial incorporated enterprises24 4709 42111 60113 8255 7751 26666 358
Private non-financial unincorporated enterprises3212687270164
Private non-profit institutions serving enterprises1 1314321 4675393903 608
Financial corporations464 778285 12565 38150 03513 9961 972881 287
Norges Bank0000000
Banks8 4369 5479 7772 347928031 035
Mortgage companies01700000170
Finance companies005000050
State lending institutions etc.6251359000616
Financial holding companies483 32612410003 508
Mutual funds107 92628 9949 81910 47300157 212
Investment trusts and private equity funds45184552124545
Other financial enterprises, except insurance companies and pension funds53 42719 35014 43712 3117 153547107 225
Life insurance companies and pension funds288 910217 72329 28523 5565 9111 421566 806
Non-life insurance companies5 9805 7461 0751 3172014 120
General government4 5094 0207 1191 79536017 479
Central government367291304140679
Local government4 5063 9536 8281 49122016 800
Non-profit institutions serving households14 6289 3565 4443 57068610433 788
Households109 9193 7746 91611 49836 175127168 409
Unincorporated enterprises within households110607024
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.0112004
Employees, recipients of property income, pensions and social contributions, students etc.109 9083 7736 90911 49636 168127168 381
Rest of the world84 80821 17714 79510 2151 82415132 834
Unspecified sector933119560118

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 2019
All types of fundsEquity fundsBond fundsMoney market fundsOther bond fundsHybrid fundsOther funds
Sum all holding sectors-7 149-16 8726 2241 3702 363-204-30
 
Non-financial corporations-140-382-6-509947-161-29
Public unincorporated enterprises, owned by central government0000000
Public incorporated enterprises, owned by central government-500-118-35-259-8800
Public unincorporated enterprises, owned by local government0000000
Public incorporated enterprises, owned by local government2207160-10
Private non-financial incorporated enterprises8-27633-5981 035-157-29
Private non-financial unincorporated enterprises-3-300000
Private non-profit institutions serving enterprises33315-113320-30
Financial corporations-8 847-16 5135 6871 18079406
Norges Bank0000000
Banks73-14420308-11-1000
Mortgage companies-1000-1000000
Finance companies0000000
State lending institutions etc.-3500-29-600
Financial holding companies-5180-5180000
Mutual funds-13 092-17 2343 960-4322500
Investment trusts and private equity funds319-10320000
Other financial enterprises, except insurance companies and pension funds958-6837766518606
Life insurance companies and pension funds3 8591 2151 909701-6400
Non-life insurance companies-311-28139-1437400
General government-128-8537-1264600
Central government146030467000
Local government-274-857-172-2400
Non-profit institutions serving households-479-181-364176-81-290
Households362-168208-1532221-7
Unincorporated enterprises within households-2-10-1000
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.0000000
Employees, recipients of property income, pensions and social contributions, students etc.364-167208-1432221-7
Rest of the world2 091458663665335-300
Unspecified sector-8-1-1-10-50

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