Folketrygdfondet up by NOK 3 billion in the second quarter

The Government Pension Fund Norway, which Folketrygdfondet manages, recorded a return of 0.89 per cent in the second quarter 2023. That corresponds to NOK 3 billion. The capital amounted to NOK 331 billion at the end of the quarter.
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Kjetil Houg Foto: Jarle Nyttingnes
Foto: Jarle Nyttingnes

Oslo, 22 August 2023

For the first half-year as a whole, the return was 4.07 per cent, thereby outperforming the market by 0.51 percentage points.

‘We continue to improve after a poor profit performance in 2022, and we are happy to note that we deliver good asset management in a tentative market affected by interest rate increases,’ says CEO Kjetil Houg.  

The return of 0.89 per cent on the Government Pension Fund Norway (GPFN) was 0.30 percentage points higher than the benchmark index in the second quarter. 

The return on the equities portfolio was 2.01 per cent in the second quarter. That is 0.34 percentage points higher than the equity benchmark index.

The return on the fixed-income portfolio was -0.79 per cent, which is 0.23 percentage points higher than the fixed-income benchmark index. 

‘We see that our strategies are working well and that both the fixed-income and equities portfolios beat the market,’ says Kjetil Houg.  

In the past ten years, the annual return on the Government Pension Fund Norway has been 8.3 per cent. This means that, in the past decade, Folketrygdfondet has outperformed the market by 0.82 percentage points a year. 

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