Market value
Key figures
| |
1Q 2013
|
4Q 2012
|
3Q 2012
|
2Q 2012
|
1Q 2012
|
Market value (billions of kroner)*
|
| Market value of equity investments |
2,609 |
2,336 |
2,247 |
2,122 |
2,122 |
| Market value of fixed-income investments |
1,536 |
1,455 |
1,465 |
1,428 |
1,364 |
| Market value of real estate investments |
37 |
25 |
11 |
11 |
11 |
| Market value of fund |
4,182 |
3,816 |
3,723 |
3,561 |
3,496 |
| Inflow of new capital* |
60 |
64 |
80 |
72 |
60 |
| Return on fund |
219 |
123 |
167 |
-77 |
234 |
| Change due to fluctuations in krone |
86 |
-94 |
-85 |
70 |
-110 |
| Total change in fund |
366 |
92 |
162 |
65 |
185 |
|
Management costs (percent)
|
| Estimated transition costs** |
0.00 |
0.00 |
0.01 |
0.01 |
0.01 |
| Annualised management costs |
0.06 |
0.06 |
0.06 |
0.07 |
0.07 |
| |
Changes in value since first capital inflow in May 1996 (billions of kroner)
|
| Gross inflow of new capital |
3,121 |
3,060 |
2,296 |
2,915 |
2,842 |
| Management costs |
21 |
21 |
20 |
20 |
19 |
| Inflow of capital after management costs |
3,099 |
3,039 |
2,975 |
2,895 |
2,823 |
| Return on fund |
1,327 |
1,107 |
985 |
817 |
894 |
| Change due to fluctuations in krone |
-244 |
-331 |
-237 |
-151 |
-221 |
| Market value of fund |
4,182 |
3,816 |
3,723 |
3,561 |
3,496 |
| |
|
|
|
|
|
| Return after management costs |
1,305 |
1,087 |
965 |
798 |
875 |
|
*The fund market value shown in this table does not take into account the management fee to NBIM from the Ministry of Finance. The market value therefore differs somewhat from the Balance sheet and the Statement of changes in owner’s capital in the financial-reporting section. The inflows in this table differ somewhat from inflows in the financial accounts (see Statement of cash flows and Statement of changes in owner’s capital) due to differences in the treatment of management fees and unsettled inflows (see Statement of cash flows).
** Estimated transition costs of new capital inflows. These do not include costs due to strategic changes in the fund and costs from implementing benchmark index changes, for instance when companies, issuers and bonds are added to or excluded from the benchmark indices for equities and fixed income.
***Management costs at subsidiaries, see Table 3.2 in the financial-reporting section, are not included in the management fee. Management costs at subsidiaries have been deducted from the fund’s return before management fees
Accumulated return since 1996. Billions of kroner
|
| |
1Q 2013
|
4Q 2012
|
3Q 2012
|
2Q 2012
|
1Q 2012
|
| Return on equity investments |
777 |
579 |
474 |
338 |
437 |
| Return on fixed-income investments |
549 |
528 |
510 |
480 |
457 |
| Return on real estate investments |
0 |
0 |
0 |
0 |
0 |
|
Total return
|
1,327 |
1,107 |
985 |
817 |
894 |
Last Updated:
26 April 2013
