Annual report 2012
The return on the Government Pension Fund Global in 2012 was 13.4 percent, the fund’s second best performance ever.
The results in brief
- The Government Pension Fund Global returned 13 percent, or 447 billion kroner, in 2012.
- Equity investments returned 18 percent, while fixed-income holdings returned 7 percent. The return on real estate investments was 6 percent. In total, it was the second-best year in the fund’s history.
- The return on equity and fixed-income investments beat the fund’s benchmark indices by 0.2 percentage point.
- The market value of the fund was 3,816 billion kroner at the end of 2012. The fund held 61.2 percent in equities, 38.1 percent in fixed income and 0.7 percent in real estate at the end of the year.
- European holdings accounted for 48 percent of the fund at the end of 2012, down from 53 percent a year earlier, after an increase in investments in emerging markets.