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Size and return

Investment portfolio. Key figures to 31 March 2010. Annualised data

  Past year Past 3 years Past 5 years Past 10 years Since 01.01.98
Portfolio return (per cent) 30.92 1.82 4.43 496 4.92
Benchmark return (per cent) 23.77 2.04 4.50 4.87 4.83
Excess return (percentage points) 7.14 -0.23 -0.07 0.10 0.09
Standard deviatio (per cent)1) 7.02 9.90 7.89 5.89 5.45
Tracking error (percentage points) 1.23 1.86 1.44 1.02 0.93
Information ratio 2) 5.79 -0.12 -0.05 0.09 0.09
Gross annual return (per cent) 30.92 1.82 4.43 4.96 4.92
Annual price inflation (per cent) 1.82 1.94 2.08 1.98 1.85
Annual management costs (per cent) 0.07 0.08 0.07 0.07 0.07
Annual net real return (per cent) 28.50 -0.20 2.24 2.86 2.95

 

1) The standard deviation is a measure of variations in the return/excess return during a period. Each monthly return/excess return
is compared with the mean for the period. The higher the standard deviation, the greater the variations relative to the mean and
the higher the risk.
2) The information ratio (IR) is a measure of risk-adjusted return. It is calculated as the ratio of excess return to the actual relative
market risk (as measured by tracking error) to which the portfolio has been exposed. The IR indicates how much excess return
has been achieved per unit of risk.

Investment portfolio. Key figures to 31 March 2010. Quarterly data

  Q1 
2010
Q4
2009
Q3 2009 Q2 2009 Q1 2009
Market value (billions of NOK)          
Fixed income portfolio 135.4 102.6  103.0  106.3  100.8
Equity portfolio 87.2  82.9  80.0  71.4  60.0 
Overall portfolio 222.6  185.4  183.0  177.7  160.8 
Inflows of new capital 31.0  0.0 0.0 0.0 0.0
Return 6.7  4.9 21.3  178.6  -4.2 
Change due to movements in krone -0.5  -2.5  -16.0  -0.7 -13.9
Return in international currency (percent)          
Equity portfolio 5.06 4.39 17.59 18.64 -9.37
Fixed income portfolio 2.50 1.03 7.63 5.63 -0.74 
Overall portfolio 3.66 2.51 11.51 10.48 -4.14
Benchmark portfolio 3.16 1.86 9.28 7.79 -3.77
Excess return 0.50 0.65 2.23 2.69 -0.37 
Return in NOK (percent)          
Equity portfolio 4.71 3.17  8.63 18.66 -15.02
Fixed income portfolio 2.17 -0.14 -0.81 5.64 -6.92
Overall portfolio 3.32 1.32 3.02 10.49 -1012
Benchmark portfolio 2.82 0.67 0.96 7.80 -9.76
Last Updated: 29 January 2010

Norges Bank Investment Management (NBIM) | Bankplassen 2, P.O. Box 1179 Sentrum | NO-0107 Oslo, Norway | Tel +47 24 07 30 00 | E-mail contact@nbim.no | Disclaimer