This is an archived release.
Market value of Government Pension Fund Norway increased
Last year’s financial report for Government Pension Fund Norway shows that net assets amounted to NOK 185.7 billion at the end of 2014. This corresponds to a return on the Fund’s equity of 10.7 per cent compared to 2013 when the Fund’s net assets amounted to NOK 167.8 billion.
|2nd half year 2014||2nd half year 2014||2nd half year 2004||2nd half year 2004|
|Million kroner||Percentage of total assets||Million kroner||Percentage of total assets|
|Deposits in total||9 470||4.7||988||0.6|
|Commercial papers||0||0.0||3 919||2.2|
|Bonds||80 928||39.8||26 585||15.1|
|Shares and other equity||107 749||52.9||40 839||23.3|
|Other financial assets||5 373||2.6||4 142||2.4|
|Total assets||203 520||100.0||175 481||100.0|
Of the Fund’s total assets of NOK 203.5 billion, shares and other equities represented NOK 107.7 billion or 52.9 per cent of the total portfolio. The stock of bonds amounted to NOK 80.9 billion or 39.8 per cent. Deposits and other financial assets represented 7.3 per cent of the Fund’s total assets.
The financial report shows that the portion of shares and other equities is somewhat reduced compared to the 2nd half of 2013 when shares and other equities amounted to 59.7 per cent of the Fund’s total portfolio. The share of bonds has increased from 36.5 per cent since the end of 2013.
Through the Government Pension Fund Act, the Storting has made the Ministry of Finance responsible for the management of the Government Pension Fund Norway (GPFN). Operational management of the Fund is carried out by Folketrygdfondet. The capital base of the GPFN originates primarily from surpluses in the national insurance scheme between the introduction of the national insurance scheme in 1967 and the late 1970s. The objective for the management of the Fund is to maximise financial returns measured in Norwegian kroner, given a moderate level of risk. The main part of the assets of the GPFN is invested in the Norwegian equity and fixed income markets.