Portfolio investment abroad, 2010

The USA was the largest single country in Norway’s portfolio investment. NOK 628 billion (60 per cent) was invested in equity securities in the USA. Debt securities amounted to NOK 412 billion. Corresponding data for 2009 show NOK 526 billion in equity securities and NOK 343 billion in debt securities. At the end of 2010, Norway’s second and third largest countries of portfolio investment were the United Kingdom and Germany, with NOK 538 and NOK 363 billion respectively.

The Government Pension Fund dominates

Total investment in 2010 for equity securities was NOK 2 370 billion (55 per cent of total investments), while investment in debt securities was NOK 1 911 billion (45 per cent of total investments). Corresponding data for 2009 show NOK 2 043 billion for equities and NOK 1 715 billion for debt securities.

The general government sector, dominated by the Government Pension Fund - Global, had a stock position of NOK 3 189 billion in foreign securities at the end of 2010. This is equal to 74 per cent of Norway’s total portfolio investment. Norway’s total equity position for the general government sector was NOK 1 914 billion; an increase of 15 per cent from the end of 2009. The debt securities increased by 17 per cent from 2009, and amounted to NOK 1 275 billion at the end of 2010.

Tables:

• Table 1 Portfolio investment abroad by type of assets and country. 31 December. NOK million
• Table 2 Portfolio investment abroad by type of assets and sector per 31 December. NOK million