Since the pandemic hit in March 2020, Norwegian households have saved more in equity funds every month than the previous month. In total, the savings have more than doubled.
At the end of November, NOK 267 billion had been invested in equity funds by Norwegian households. In March 2020, the figure was NOK 125 billion, according to figures from the Norwegian Mutual Funds Association (VFF), which Norwegian Broadcasting (NRK) has obtained.
The association states that almost half of Norwegians now save in equity funds, compared to one in three previously.
Researcher Christian Poppe at the Consumer Research Institute Sifo also states that 16% of households have no opportunity to save.
“Saving is a phenomenon that is significantly skewed in society. During the pandemic, the ability to save has been significantly reduced among those who are most exposed financially in society,” he said.
Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance
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