Norway has over 1,000 billion in mutual funds

Norwegian moneyNorwegian money.Photo: Berit Roald / NTB scanpix

For the first time the assets of Norwegian mutual funds 1.000 billion, in February.

Total assets have grown to 1.021 billion, which is an eight-fold increase of the capital since 2000.

In February, the net purchased of  mutual fund shares (purchases minus sales) of NOK 7.7 billion in February, according to the monthly market statistics from the Norwegian Mutual Fund Association (VFF).

Around 800,000 Norwegian private individuals saves today regularly in funds through savings schemes. Retail customers bought fund for 800 million in February and has now approximately 200 billion in securities funds.

But it is the professional clients who have most assets in the fund market. In February, the net purchases institutional customers (insurance companies, municipalities, foundations, corporation, etc.) for 4.8 billion. Thus, they account for just over half of the total assets.

Foreign customers have placed 103 billion in Norwegian securities funds.

 

Source: NTB scanpix / Norway Today

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