428143
/en/bank-og-finansmarked/statistikker/vpfondk/kvartal
428143
statistikk
2021-02-19T08:00:00.000Z
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

16.7

billions in net purchases/sales

Outstanding amounts and net purchases of mutual fund shares. Market value (NOK million)
1st quarter 20202nd quarter 20203rd quarter 20204th quarter 2020
All sectors
Outstanding amounts1 175 8691 318 5711 402 4151 484 087
Net purchases/sales-56 18042 61426 19116 678
General government
Outstanding amounts14 91316 50717 77418 268
Net purchases/sales-540840869131
Financial corporations
Outstanding amounts779 620863 400913 197982 847
Net purchases/sales-39 28821 28615 1753 955
Non-financial corporations
Outstanding amounts67 73275 97684 00989 775
Net purchases/sales-7 9303 0406 4452 875
Households
Outstanding amounts155 231180 881191 672201 258
Net purchases/sales-6 2949 1542 819-527
Non-profit institutions serving households
Outstanding amounts32 20236 39638 47638 862
Net purchases/sales-3541 641437-917
Rest of the world
Outstanding amounts126 032145 298157 124152 891
Net purchases/sales-1 7736 65442611 179
Unspecified sector
Outstanding amounts139113163186
Net purchases/sales-1-120-18

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
1st quarter 20202nd quarter 20203rd quarter 20204th quarter 2020
Total1 175 8691 318 5711 402 4151 484 087
Non-financial corporations67 73275 97684 00989 775
Public unincorporated enterprises, owned by central government0000
Public incorporated enterprises, owned by central government5 0115 1737 2997 859
Public unincorporated enterprises, owned by local government65676956
Public incorporated enterprises, owned by local government1 2601 0731 0281 074
Private non-financial incorporated enterprises57 87365 99972 24977 569
Private non-financial unincorporated enterprises150159155151
Private non-profit institutions serving enterprises3 3733 5053 2093 066
Financial corporations779 620863 400913 197982 847
Norges Bank0000
Banks22 11526 19928 19727 691
Mortgage companies431201553177
Finance companies60787879
State lending institutions etc.4662 2042 8053 060
Financial holding companies3 4353 5173 5245 029
Mutual funds136 613158 545172 059173 751
Investment trusts and private equity funds676616934770
Other financial enterprises, except insurance companies and pension funds97 327109 972118 446128 022
Life insurance companies and pension funds505 030547 653572 353629 162
Non-life insurance companies13 46714 41514 24815 106
General government14 91316 50717 77418 268
Central government729802827735
Local government14 18415 70516 94717 533
Non-profit institutions serving households32 20236 39638 47638 862
Households155 231180 881191 672201 258
Unincorporated enterprises within households24242830
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.0112
Employees, recipients of property income, pensions and social contributions, students etc.155 207180 856191 643201 226
Rest of the world126 032145 298157 124152 891
Unspecified sector139113163186

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
1st quarter 20202nd quarter 20203rd quarter 20204th quarter 2020
Total-56 18042 61426 19116 678
Non-financial corporations-7 9303 0406 4452 875
Public unincorporated enterprises, owned by central government0000
Public incorporated enterprises, owned by central government-1 255412 086582
Public unincorporated enterprises, owned by local government-1000
Public incorporated enterprises, owned by local government-195-276-5218
Private non-financial incorporated enterprises-6 6013 3564 5052 466
Private non-financial unincorporated enterprises-1-4-8-6
Private non-profit institutions serving enterprises123-77-86-185
Financial corporations-39 28821 28615 1753 955
Norges Bank0000
Banks-1 9151 3701 259-864
Mortgage companies236-233352-375
Finance companies101700
State lending institutions etc.-181 729590271
Financial holding companies-63-315-5-21
Mutual funds-13 4319 2485 624-5 907
Investment trusts and private equity funds45-75533-202
Other financial enterprises, except insurance companies and pension funds-5 4784 0542 7453 570
Life insurance companies and pension funds-19 0335 5334 5747 093
Non-life insurance companies359-42-497390
General government-540840869131
Central government65020-88
Local government-546790849219
Non-profit institutions serving households-3541 641437-917
Households-6 2949 1542 819-527
Unincorporated enterprises within households0-131
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.0000
Employees, recipients of property income, pensions and social contributions, students etc.-6 2949 1552 816-528
Rest of the world-1 7736 65442611 179
Unspecified sector-1-120-18

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
1st quarter 20201 184 27454 8875 05910 9351 0116 698248 873174 957100 740395 434136 61332 5985 30011 168
2nd quarter 20201 326 97639 9985 45210 8127487 168269 543204 980123 551451 403158 54537 1156 49311 168
3rd quarter 20201 410 82043 1083 97312 3997607 508277 658210 363137 113492 591172 05935 3446 77611 168
4th quarter 20201 492 49242 1455 49315 0967268 242288 478204 376162 276523 226173 75149 9107 60511 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)
4th quarter 2020
Equity fundsBond fundsMoney market fundsOther bond fundsHybrid fundsOther fundsAll types of funds
Sum all holding sectors833 532362 694114 738103 60365 4774 0431 484 087
Non-financial corporations30 38513 78522 02415 5386 2841 75989 775
Public unincorporated enterprises, owned by central government0000000
Public incorporated enterprises, owned by central government81 6155 406829107 859
Public unincorporated enterprises, owned by local government1104500056
Public incorporated enterprises, owned by local government217298634732301 074
Private non-financial incorporated enterprises28 93611 49115 49613 7046 1831 75977 569
Private non-financial unincorporated enterprises2218578280151
Private non-profit institutions serving enterprises1 1913631 0094544903 066
Financial corporations535 397312 49460 87156 61915 5091 957982 847
Norges Bank0000000
Banks8 2888 8568 8011 148598027 691
Mortgage companies01770000177
Finance companies3274900079
State lending institutions etc.75652 4880003 060
Financial holding companies04 89312610005 029
Mutual funds131 01027 7125 3709 65900173 751
Investment trusts and private equity funds5122627934770
Other financial enterprises, except insurance companies and pension funds67 69924 94413 19014 0267 954209128 022
Life insurance companies and pension funds322 400239 35529 10229 6166 9451 744629 162
Non-life insurance companies5 9855 8431 1182 1519015 106
General government5 0494 2977 2361 65131418 268
Central government339362318130735
Local government5 0464 2586 8741 33318417 533
Non-profit institutions serving households17 95811 4264 9123 7907106638 862
Households135 1416 8847 29510 92340 774241201 258
Unincorporated enterprises within households1206111030
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.0110002
Employees, recipients of property income, pensions and social contributions, students etc.135 1296 8837 28810 92240 763241201 226
Rest of the world109 55313 79612 36815 0332 12516152 891
Unspecified sector49123249440186

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
4th quarter 2020
All types of fundsEquity fundsBond fundsMoney market fundsOther bond fundsHybrid fundsOther funds
Sum all holding sectors16 6784 7285 3983 6151 2431 6895
 
Non-financial corporations2 8755291361 76118620657
Public unincorporated enterprises, owned by central government0000000
Public incorporated enterprises, owned by central government582-1-74657000
Public unincorporated enterprises, owned by local government0000000
Public incorporated enterprises, owned by local government18-5-2-733-10
Private non-financial incorporated enterprises2 4665452181 28415520757
Private non-financial unincorporated enterprises-6-300-300
Private non-profit institutions serving enterprises-185-7-6-173100
Financial corporations3 955-2 3314 9011 089-383269
Norges Bank0000000
Banks-86438-238-72710540
Mortgage companies-3750-3750000
Finance companies0000000
State lending institutions etc.2710-22293000
Financial holding companies-210-221000
Mutual funds-5 907-5 781-151-20723200
Investment trusts and private equity funds-202-44-1-15600-1
Other financial enterprises, except insurance companies and pension funds3 5701 2191 0501 301-2612529
Life insurance companies and pension funds7 0932 2694 713478-379111
Non-life insurance companies390-32-5310636090
General government131-115-11425710003
Central government-880-31-31-2600
Local government219-115-8328812603
Non-profit institutions serving households-917-62958-26323-13-93
Households-527-1 58584-157431 05829
Unincorporated enterprises within households1-100020
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.0000000
Employees, recipients of property income, pensions and social contributions, students etc.-528-1 58484-157431 05629
Rest of the world11 1798 8523349309301330
Unspecified sector-187-1-2-1-210

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