404152
/en/bank-og-finansmarked/statistikker/vpfondk/kvartal
404152
statistikk
2020-11-20T08:00:00.000Z
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

26.2

billions in net purchases/sales

Outstanding amounts and net purchases of mutual fund shares. Market value (NOK million)
4th quarter 20191st quarter 20202nd quarter 20203rd quarter 2020
All sectors
Outstanding amounts1 360 0181 175 7761 318 5711 402 416
Net purchases/sales523-56 22142 61426 192
General government
Outstanding amounts16 49914 91316 50717 774
Net purchases/sales-1 299-540840869
Financial corporations
Outstanding amounts903 188779 573863 398913 197
Net purchases/sales-6 101-39 33321 28515 175
Non-financial corporations
Outstanding amounts83 43867 73275 97784 008
Net purchases/sales1 844-7 9303 0416 445
Households
Outstanding amounts182 403155 185180 881191 672
Net purchases/sales3 788-6 2909 1542 820
Non-profit institutions serving households
Outstanding amounts35 19832 20236 39738 477
Net purchases/sales368-3541 641437
Rest of the world
Outstanding amounts139 176126 032145 271157 097
Net purchases/sales1 918-1 7736 628426
Unspecified sector
Outstanding amounts116139140191
Net purchases/sales5-12520

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 20191st quarter 20202nd quarter 20203rd quarter 2020
Total1 360 0181 175 7761 318 5711 402 416
Non-financial corporations83 43867 73275 97784 008
Public unincorporated enterprises, owned by central government0000
Public incorporated enterprises, owned by central government6 4275 0115 1737 299
Public unincorporated enterprises, owned by local government68656769
Public incorporated enterprises, owned by local government1 5641 2591 0731 028
Private non-financial incorporated enterprises71 74357 87466 00072 248
Private non-financial unincorporated enterprises167150159155
Private non-profit institutions serving enterprises3 4693 3733 5053 209
Financial corporations903 188779 573863 398913 197
Norges Bank0000
Banks25 50522 11426 19928 197
Mortgage companies199431201553
Finance companies51607878
State lending institutions etc.4994662 2042 805
Financial holding companies3 4483 4353 5173 524
Mutual funds164 465136 613158 545172 059
Investment trusts and private equity funds655676616934
Other financial enterprises, except insurance companies and pension funds114 94797 281109 971118 446
Life insurance companies and pension funds579 070505 030547 652572 353
Non-life insurance companies14 34913 46714 41514 248
General government16 49914 91316 50717 774
Central government752729802827
Local government15 74714 18415 70516 947
Non-profit institutions serving households35 19832 20236 39738 477
Households182 403155 185180 881191 672
Unincorporated enterprises within households27242428
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.3011
Employees, recipients of property income, pensions and social contributions, students etc.182 373155 161180 856191 643
Rest of the world139 176126 032145 271157 097
Unspecified sector116139140191

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 20191st quarter 20202nd quarter 20203rd quarter 2020
Total523-56 22142 61426 192
Non-financial corporations1 844-7 9303 0416 445
Public unincorporated enterprises, owned by central government0000
Public incorporated enterprises, owned by central government-33-1 255412 086
Public unincorporated enterprises, owned by local government0-100
Public incorporated enterprises, owned by local government-715-195-276-52
Private non-financial incorporated enterprises2 795-6 6013 3574 505
Private non-financial unincorporated enterprises1-1-4-8
Private non-profit institutions serving enterprises-204123-77-86
Financial corporations-6 101-39 33321 28515 175
Norges Bank0000
Banks-4 609-1 9151 3701 259
Mortgage companies27236-233352
Finance companies010170
State lending institutions etc.-120-181 729590
Financial holding companies-77-63-315-5
Mutual funds818-13 4319 2485 624
Investment trusts and private equity funds7345-75533
Other financial enterprises, except insurance companies and pension funds3 569-5 5234 0532 745
Life insurance companies and pension funds-5 660-19 0335 5334 574
Non-life insurance companies-122359-42-497
General government-1 299-540840869
Central government5965020
Local government-1 358-546790849
Non-profit institutions serving households368-3541 641437
Households3 788-6 2909 1542 820
Unincorporated enterprises within households10-13
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.0000
Employees, recipients of property income, pensions and social contributions, students etc.3 787-6 2909 1552 817
Rest of the world1 918-1 7736 628426
Unspecified sector5-12520

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 20191 368 42338 4765 72222 6419 1599 888273 478163 689139 993475 797164 46546 8407 10711 168
1st quarter 20201 184 18154 8875 05910 9351 0116 698248 872174 957100 739395 435136 61332 5065 30011 168
2nd quarter 20201 326 97639 9985 45210 8127487 168270 017205 101123 551451 404158 54536 5196 49311 168
3rd quarter 20201 410 82143 1083 97312 3997607 508277 656210 318137 113492 591172 05935 3926 77611 168

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 2020
Equity fundsBond fundsMoney market fundsOther bond fundsHybrid fundsOther fundsAll types of funds
Sum all holding sectors767 077358 129111 565102 79761 1211 7271 402 416
Non-financial corporations27 23213 63820 20817 0895 7618084 008
Public unincorporated enterprises, owned by central government0000000
Public incorporated enterprises, owned by central government91 6974 773819107 299
Public unincorporated enterprises, owned by local government1784400069
Public incorporated enterprises, owned by local government200300704352301 028
Private non-financial incorporated enterprises25 84011 23614 12615 3035 6638072 248
Private non-financial unincorporated enterprises2318581280155
Private non-profit institutions serving enterprises1 1433791 1904514603 209
Financial corporations489 667298 21055 61453 59414 4721 640913 197
Norges Bank0000000
Banks7 4149 08510 0931 092513028 197
Mortgage companies05530000553
Finance companies3274800078
State lending institutions etc.75932 2050002 805
Financial holding companies03 38812610003 524
Mutual funds129 39527 8115 6199 23400172 059
Investment trusts and private equity funds461247491320934
Other financial enterprises, except insurance companies and pension funds60 85223 71812 37614 1177 3794118 446
Life insurance companies and pension funds286 372226 97723 38127 4096 5781 636572 353
Non-life insurance companies5 5785 9341 0171 7190014 248
General government4 7644 4217 0041 55629017 774
Central government369396347120827
Local government4 7614 3526 6081 20917016 947
Non-profit institutions serving households17 38211 3715 1653 864693238 477
Households127 7206 8357 47211 29338 3484191 672
Unincorporated enterprises within households120619028
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.0100001
Employees, recipients of property income, pensions and social contributions, students etc.127 7086 8347 46611 29238 3394191 643
Rest of the world100 26123 64116 07115 3541 7691157 097
Unspecified sector51133147490191

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 2020
All types of fundsEquity fundsBond fundsMoney market fundsOther bond fundsHybrid fundsOther funds
Sum all holding sectors26 19213 4516 7855 364-9960883
 
Non-financial corporations6 4451513905 252584-573
Public unincorporated enterprises, owned by central government0000000
Public incorporated enterprises, owned by central government2 086-1002 093300
Public unincorporated enterprises, owned by local government0000000
Public incorporated enterprises, owned by local government-52-3-27-4-5-130
Private non-financial incorporated enterprises4 5051764273 233588873
Private non-financial unincorporated enterprises-8-400-400
Private non-profit institutions serving enterprises-86-8-10-70200
Financial corporations15 17512 5365 624-1 278-1 9712603
Norges Bank0000000
Banks1 259121487907-155-1020
Mortgage companies35203520000
Finance companies0000000
State lending institutions etc.5900-10600000
Financial holding companies-50-50000
Mutual funds5 6244 3049314234700
Investment trusts and private equity funds533-2100426900
Other financial enterprises, except insurance companies and pension funds2 7457001 13780647523
Life insurance companies and pension funds4 5747 6262 630-3 993-1 9993100
Non-life insurance companies-497-2132-66-22000
General government8691847384600
Central government200020000
Local government8491847184600
Non-profit institutions serving households437-201705123231
Households2 8202 060132001523915
Unincorporated enterprises within households3100110
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.0000000
Employees, recipients of property income, pensions and social contributions, students etc.2 8172 059132001513905
Rest of the world426-1 279494401850-411
Unspecified sector202100800

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