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Abstract

Overview

Introduction

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.

Scope

• Presents competitor market data for retail banks and mutual fund companies;
• Assesses regulatory barriers and opportunities;
• 5 years historic data from 2001-5 and 5 year forecast to 2010.

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.

Reasons to Purchase

• Get an overview of the retail investment market, including past growth and forecast growth;
• Assess regulatory barriers and opportunities affecting retail investments in this country;
• Analyze competition from retail banks and mutual fund companies.

Table of Contents

• Overview
  • Catalyst
  • Summary
• Executive Summary
  • 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 forecast between 2006 and 2010
    • 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
    • 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
    • Legislation aimed at improving investor confidence and consumer protection imposes additional obligations on providers
    • The leading Norwegian banks and asset management companies control more than 60% of their respective markets
    • Four of the top five mutual fund managers belong to leading banking groups
• Table of Contents
• Table of figures
• Table of tables
• MARKET OVERVIEW
  • 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
    • Non-retail assets outstrip retail holdings in equity and bonds
    • Deposits accounted for just below 70% of the Norwegian retail savings and investments market in 2005
    • Since 2003, mutual funds have accounted for a growing proportion of household wealth, primarily at the expense of deposits
• MARKET FORECASTS
  • 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
    • Between 2006 and 2010, growth in mutual funds will slow to 6.9%
• MARKET REGULATION
  • Legislation aimed at improving investor confidence and consumer protection imposes additional obligations on providers
    • The Norwegian Financial Supervisory Authority regulates the savings and investments sector
    • For banks and investment companies, Basel II capital adequacy requirements imply additional investment in risk management expertise and in IT systems to calculate risk
    • Recent legislation improves consumer and investor protection
    • Financial conglomerates face additional supervisory requirements
    • Savings banks enjoy increased flexibility in board appointments
    • Investment firms must finance a collective guarantee scheme
    • Upcoming EU legislation (UCITS directive and MiFID) facilitates market development and enhances consumer protection
• COMPETITIVE MARKET STRUCTURE
  • The leading Norwegian banks and asset management companies control more than 60% of their respective markets
    • Savings banks comprise the largest segment of the Norwegian banking sector, by number
    • The top 5 banks control 72% of the banking market, measured by customer deposits
    • The top five asset managers control 64% of the mutual funds market, by AuM
    • Competitors in securities trading include investment companies and other authorized institutions
• MARKET LEADERS
  • Four of the top five mutual fund managers belong to leading banking groups
    • DnB NOR Bank Group leads the Norwegian banking sector; DnB NOR Kapitalforvaltning is the mutual funds market leader
    • Nordea Bank Norway trails the market leader in the Norwegian retail banking market; Nordea Fondene ranks fourth in the mutual funds sector
    • Fokus Bank (Danske Bank branch) ranks third among banks; Danske Capital Norge is the fifth largest asset manager
    • The Sparebank 1 Alliance is the fourth largest Norwegian banking group by customer deposits; ODIN Forvaltning ranks second among asset managers, by AuM
    • The Handelsbanken Group rounds out the banking market leaders; Storebrand Fondene has the third-highest mutual funds market share
• APPENDIX
  • Asset manager / Asset management company
  • Asset allocation fund
  • Bank
  • Collective Investment Scheme
  • Friendly society
  • Fund of funds
  • Hedge fund
  • Investment company
  • ISA
  • Non-retail market
  • Retail market
  • SICAF
  • SICAV
  • UCITS
  • Further reading
    • Savings and Investments SPP
      • Interactive Databases
      • Reports
    • Related Global Wealth Service SPP Reports
      • Interactive Databases
      • Market Reports
      • Strategic Insight Reports
      • Wealth Management Competitor Tracker
  • Ask the analyst
  • Datamonitor consulting
  • Disclaimer
  • List of Tables
    • Table 1: Total Savings & Investments segmented by retail v institutional, NOKm, as at Dec 2005
    • Table 2: Total Savings & Investments segmented by retail v institutional, in percentages, as at Dec 2005
    • Table 3: Retail Savings & Investments, segmented by asset class, NOKm, as at Dec 2005
    • Table 4: Retail Savings & Investments, segmented by asset class, NOKm, 2001 - 2005
    • Table 5: Retail Savings & Investments, segmented by asset class, in percentages, 2001 - 2005
    • Table 6: Retail Savings & Investments, segmented by asset class, NOKm, 2006 - 2010
    • Table 7: Retail Savings & Investments, segmented by asset class, in percentages, 2006 - 2010
    • Table 8: Number of banks segmented by type, as at Dec 2005
    • Table 9: Top 5 banking groups by customer deposits, as at Dec 2005
    • Table 10: Top 5 asset management companies by mutual fund assets under management (AuM), as at Dec 2005
  • List of Figures
    • Figure 1: Retail assets account for more than half of deposits and mutual funds in Norway
    • Figure 2: Deposits and mutual funds together represent 86% of retail savings in 2005
    • Figure 3: At 21.3%, compound annual growth in retail mutual funds outstripped all other asset classes between 2001 and 2005
    • Figure 4: The allocation of household savings between asset classes will remain largely consistent, with the proportion of deposits decreasing slightly
    • Figure 5: Norwegian commercial banks account for 9% of the market, by number
    • Figure 6: DnB NOR leads the banking sector, with a market share of 45%
    • Figure 7: DnB NOR Kapitalforvaltning accounts for 31% of the mutual funds market