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Quarterly report 2Q 2011

The Government Pension Fund Global returned 0.3 percent, or 4 billion kroner, in the second quarter of 2011 after rising bond prices outweighed a slump in large parts of the stock markets.
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  • The Government Pension Fund Global returned 0.3 percent, or 4 billion
    kroner, in the second quarter of 2011. This was 0.1 percentage point lower
    than the return on the fund’s benchmark indices.
     
  • Equity investments returned -0.7 percent, while fixed-income investments
    returned 1.8 percent.
     
  •  The fund’s market value rose 9 billion kroner to 3,111 billion kroner.
     
  • The fund held 60.5 percent in equities, 39.4 percent in fixed-income
    securities and 0.1 percent in real estate at the end of the quarter.

 

“Signs of weaker economic growth in the US and Europe and fears of a contagion from the European sovereign debt crisis reduced investors’ risk willingness in the quarter,” says Yngve Slyngstad, chief executive officer of NBIM. “At the same time, demand rose for government bonds from countries such as Germany, the UK, France and the US.”

Last Updated: 11 August 2011

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