This is an archived release.
109 billion in Government Pension Fund - Norway
At the end of the second half of 2006, the Government Pension Fund - Norway’s total capital amounted to NOK 109 billion. Shares and other equity showed a value of NOK 63 billion, while the holdings of bonds showed a value of NOK 39 billion.
The portfolio of shares and other equity came to 58.1 per cent of total capital (NOK 109 billion), measured at market values. The portfolio was invested in central government and private non-financial enterprises, life insurance companies, commercial banks, savings banks and in foreign companies. At the end of 2006, the value of the foreign portfolio amounted to NOK 13.6 billion. This constitutes 12.5 per cent of the Funds total capital and 21.5 per cent of the value of the portfolio of shares and other equity.
The Interest-bearing portfolio was invested in bonds, commercial papers and deposits. Bonds constituted the main part of the interest-bearing securities.
Development throughout the year
At the end of 2006, the Government Pension Fund - Norway’s total capital was NOK 82 billion, or 43 per cent, lower than the value at the end of 2005. The main reason for this is that the Funds mandatory deposits with the treasury were discontinued 29. December 2006. The major part of the long-term deposits was depreciated, while a small part was converted to bonds.
The value of the holdings of shares and other equity amounted to NOK 63.4 billion at the end of 2006. Compared with the value at the end of 2005 this was an increase of NOK 12.8 billion. Moreover, the value of the holdings of bonds equalled NOK 39.3 billion. This was an increase of NOK 5 billion compared with the value at the end of 2005. The value of deposits, commercial papers and other financial deposits was NOK 3.4 billion lower at the end of 2006, compared to 2005.
Government Pension Fund - Norway
The Government Pension Fund was established January 1 2006. The Fund is comprised of the Government Petroleum Fund, which is a continuation of the Petroleum Fund, and The Government Pension Fund - Norway, previously known as the National Insurance Scheme fund. The operational management of the Pension Fund - Norway is carried out by Folketrygdfondet.