Market Guide: Retail Investment Market in Norway 2006

This report is most appropriate for companies looking for an overview of the retail investments markets in order to assess the level of market opportunity (using our market data and forecasts), regulatory barriers and opportunities, and level of competition in the market. For more detailed market data please refer to Datamonitor's Retail Savings and Investments Interactive Database 2006.



Report Highlights
From 2001 to 2005, the total retail savings and investments market in Norway expanded at a compound annual rate of 9.4%. Over the next five years, this rate will fall to 5.4%.

Act no. 11 of March 4th 2005 introduced amendments to the Securities Trading Act, which became effective on July 1st 2006. The revised Act required security to be provided for investment firms and established the Investment Firms' Guarantee Fund, to be financed by investment firms and other licensed securities traders.

The DnB NOR Bank Group led the Norwegian banking sector, by customer deposits as at December 2005. Apart from its Norwegian retail banking operations, the DnB NOR Group is also present in Finland, Denmark, Estonia, Latvia, Lithuania and Poland through NORD/LB, which it owns jointly with Norddeutsche Landesbank.


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Overview 1
Catalyst 1
Summary 1
Executive Summary 2
The Norwegian retail savings and investments sector has grown at a compound annual rate of 9.4% in the last 5 years; however a reduced rate of growth is expected between 2006 and 2010 2
MARKET OVERVIEW 7
Between 2001 and 2005, the Norwegian retail savings and investments market experienced compound annual growth of 9.4%, driven primarily by growth in mutual funds 7
MARKET FORECASTS 12
Between 2006 and 2010, deposits will continue to account for the bulk of retail savings, with marginal increases in the proportional allocation to mutual funds 12
MARKET REGULATION 14
Legislation aimed at improving investor confidence and consumer protection imposes additional obligations on providers 14
COMPETITIVE MARKET STRUCTURE 18
The leading Norwegian banks and asset management companies control more than 60% of their respective markets 18
MARKET LEADERS 22
Four of the top five mutual fund managers belong to leading banking groups 22
APPENDIX 25
Further reading 26
Ask the analyst 28
Datamonitor consulting 28
Disclaimer 28

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Table 1: Total Savings & Investments segmented by retail v institutional, NOKm, as at Dec 2005 8
Table 2: Total Savings & Investments segmented by retail v institutional, in percentages, as at Dec 2005 8
Table 3: Retail Savings & Investments, segmented by asset class, NOKm, as at Dec 2005 Error! Bookmark not defined.
Table 4: Retail Savings & Investments, segmented by asset class, NOKm, 2001 - 2005 10
Table 5: Retail Savings & Investments, segmented by asset class, in percentages, 2001 - 2005 11
Table 6: Retail Savings & Investments, segmented by asset class, NOKm, 2006 - 2010 13
Table 7: Retail Savings & Investments, segmented by asset class, in percentages, 2006 - 2010 13
Table 8: Number of banks segmented by type, as at Dec 2005 19
Table 9: Top 5 banking groups by customer deposits, as at Dec 2005 20
Table 10: Top 5 asset management companies by mutual fund assets under management (AuM), as at Dec 2005 21


Figure 1: Retail assets account for more than half of deposits and mutual funds in Norway 7
Figure 2: Deposits and mutual funds together represent 86% of retail savings in 2005 9
Figure 3: At 21.3%, compound annual growth in retail mutual funds outstripped all other asset classes between 2001 and 2005 10
Figure 4: The allocation of household savings between asset classes will remain largely consistent, with the proportion of deposits decreasing slightly 12
Figure 5: Norwegian commercial banks account for 9% of the market, by number 18
Figure 6: DnB NOR leads the banking sector, with a market share of 45% 19
Figure 7: DnB NOR Kapitalforvaltning accounts for 31% of the mutual funds market 20





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