Portfolio investment abroad, 2005

Two third of the total portfolio investment at the end of 2005 applies to the investment in foreign securities of the Government Pension Fund. The fund is included in the general government sector. Some institutional sectors had stronger growth in their portfolio investment than the Government Pension Fund in 2005, e.g. banks (+ 42 per cent), unit trusts (+ 69 per cent) and other financial institutions than banks and insurance companies (+ 65 per cent). The growth for insurance companies was more modest (+ 21 per cent).

The three most important countries for Norwegian portfolio investment at the end of 2005 were United States, Germany and United Kingdom.

Portfolio investment and debt secutities are still important

Of total portfolio investment at the end of 2005, debt securities had a share 55 per cent and equities a share of 45 per cent.

Portfolio investment comprises investment in foreign securities with the purpose of gaining yield only, and thus with no intention to take control over or obtain a lasting influence on the issuer of the security. Portfolio investment does not include foreign securities held by Norges Bank as reserve assets.

Tables:

• Table 1 Portfolio investment abroad by type of assets and country. 31.12. Million kroner.
• Table 2 Portfolio investment abroad by type of assets and sector per 31.12. Million kroner