This is an archived release.
Decrease in Government Pension Fund - Norway
At the end of the first half of 2008, the Government Pension Fund - Norway’s total assets amounted to NOK 115.6 billion. This was a decrease of NOK 2 billion, or 1.7 per cent, compared to the end of 2007.
The greatest reduction was in the value of the portfolio of shares and other equity, which decreased by NOK 2.8 billion, or 3.9 per cent. Also the value of the holdings of bonds decreased, by just over NOK 0.5 billion, or 1.3 per cent. The value of deposits and the value of commercial papers increased by NOK 2.4 billion and almost NOK 340 million respectively, while the value of other financial deposits decreased by slightly more than NOK 1.4 billion compared with the value at the end of 2007.
Holdings in entities belonging to the other Nordic countries amounted to NOK 19.6 billion, or 17 per cent of the total assets of the fund. The portfolio of shares and other equity had a market value of NOK 67.3 billion at the end of the first half of 2008. The portfolio was invested in central government and private non-financial enterprises, life insurance companies, commercial banks and in the foreign market.
The portfolio of bonds had a market value of NOK 41.2 billion at the end of the first half of 2008. The portfolio was invested in Central government, commercial banks, savings banks, mortgage companies, life insurance companies, other financial enterprises, central government, municipal and private non-financial enterprises and in the foreign market.
At the end of the first half of 2008 the holdings of deposits, commercial papers and other financial assets had a value of NOK 7 billion.
Government Pension Fund - Norway
The Government Pension Fund was established on 1 January 2006. The Fund consists of the Government Pension Fund - Global, which is a continuation of the Petroleum Fund, and The Government Pension Fund - Norway, previously known as the National Insurance Scheme fund. The Pension Fund - Norway invests in Norway and the other Nordic countries.
The operational management of the Pension Fund - Norway is carried out by Folketrygdfondet.