The Government Pension Fund Global returned 7.1 percent, or 234 billion kroner, in the first quarter of 2012 as stock markets rose. Measured in kroner, the quarterly return was the third largest since the fund’s inception.
“Stock markets in the US, Europe and Asia moved in lockstep in the quarter, driving the fund’s return,” says Yngve Slyngstad, chief executive officer of NBIM.
“Predictability is important for a long-term investor and the euro area faces considerable structural and monetary challenges,” says Slyngstad.
