Performance and risk 2015
16 March 2016
The report is made up of two parts: a main report and an appendix aimed at the specialist reader. The report aims to incorporate the recommendations from an academic advisory panel on principles for risk adjustment of performance figures, and at the same time address the detailed reporting requirements related to risk and performance given in the management mandate.
Since inception the fund has returned 5.64 percent annually. The fund has had a relative return of 0.26 percentage point.
Since inception, the equity investments have returned 5.27 percent and have a relative return of 0.51 percentage point.
The fixed-income investments have returned 4.87 percent and have a relative return of 0.14 percentage point.
In 2015, the relative return was 0.45 percentage point, with an average expected relative volatility of 0.32 percentage point.
The Executive Board's assessment of the Government Pension Fund Global's results in 2015 (Norges Bank letter to the Ministry of Finance - currently only available in Norwegian)
Documentation and datasets related to the analysis of factor-adjusted returns in the appendix to the report:
MSCI model specification document (PDF)