2Q 2009 Quarterly report
International equity and fixed income markets showed a marked improvement in the second quarter.
The results in brief
- The return on the Government Pension Fund – Global in the second quarter was 12.7 per cent. The excess return came to 2.1 percentage points.
- The return was record-high for a single quarter in both absolute and relative terms. The return was also larger in percentage terms than previous quarters’ negative return.
- The value of the fund increased to NOK 2 385 billion, up NOK 309 billion from the first quarter.
- Inflows into the fund totalled NOK 40 billion, a similar level to the first quarter but significantly lower than in previous years.
- The allocation to equities rose to 60.3 per cent at the end of the quarter after a two-year transition period of equity purchases.