2006

Report for the Government Pension Fund – Global, Norges Bank's foreign exchange reserves and the Government Petroleum Insurance Fund

The value of the Government Pension Fund - Global increased by NOK 207 billion in the third quarter, to NOK 1 712 billion. The Fund is now the largest pension fund in Europe.

International equity markets declined in the second quarter, particularly in Japan and emerging markets. The return on the international equity portfolios managed by Norges Bank was negative 3.3 per cent. Higher international interest rates resulted in a decline in bond prices.

Total assets under management by NBIM, the investment management arm of the Norwegian central bank, rose to NOK 1715 billon (USD 260 billion) at the end of first quarter 2006. The largest fund under management, The Government Pension Fund - Global, increased by NOK 85 billion during the quarter to NOK 1484 billion.