2009

Gains in international equity and fixed-income markets led to a record annual return for the Government Pension Fund Global in 2009. The fund returned 25.6 percent, equivalent to 613 billion kroner. This was 4.1 percentage points higher than the return on the benchmark portfolio.

The return on the Government Pension Fund – Global was 13.5 percent (NOK 325 billion) in the third quarter. The record-high quarterly return can be attributed to a sharp rise in international equity markets and a normalisation of fixed income markets.

International equity and fixed income markets showed a marked improvement in the second quarter.

The first quarter of 2009 featured low inflows into the Government Pension Fund – Global and continued volatility in global markets.