This is an archived release.
Increase in market value of Government Pension Fund Norway
Last year’s financial report for Government Pension Fund Norway shows that net assets amounted to NOK 195.9 billion at the end of the first half of 2015. This corresponds to a return on the Fund’s equity of 6.7 per cent compared to the first half of 2014 when the Fund’s net assets amounted to NOK 183.5 billion.
|1st half year 2015||1st half year 2015||1st half year 2005||1st half year 2005|
|Million kroner||Percentage of total assets||Million kroner||Percentage of total assets|
|Deposits in total||7 947||3.8||2 881||1.6|
|Commercial papers||0||0.0||3 392||1.8|
|Bonds||81 313||38.7||25 407||13.8|
|Shares and other equity||117 999||56.2||44 979||24.4|
|Other financial assets||2 650||1.3||1 694||0.9|
|Total assets||209 909||100.0||184 438||100.0|
Of the Fund’s total assets of NOK 209.9 billion, shares and other equities represented NOK 118 billion or 56.2 per cent of the total portfolio. The stock of bonds amounted to NOK 81.3 billion or 38.7 per cent. Deposits and other financial assets represented 5 per cent of the Fund’s total assets.
The Fund’s investments in foreign equities amounted to NOK 43.3 billion at the end of the first half of 2015, or 20.6 per cent of the total portfolio. At the end of the first half of 2014, this share amounted to 18 per cent.
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.