Half year report 2021

In the first half of 2021, the fund returned 9.4 percent, equivalent to 990 billion kroner. The equity investments had the most positive contribution to the return in the first half of the year, and especially the investments within the sectors of energy and finance. The investments in energy companies returned 19.5 percent. The krone strengthened against several major currencies in course of the first half of the year.

Published 18 Aug. 2021

Download the report (pdf) Read the press release

Press conference on the fund's first half year results 2021

For the first time the fund's co-pilots Nicolai Tangen and Trond Grande gave a deeper insights on the fund's half year results at Arendalsuka, 18 August. Carine Smith Ihenacho, Chief Governance and Compliance Officer, and Jonas Jølle, Co-Head Corporate Governance, also joined us to report on our new initiatives towards the companies the fund is invested in. The press conference was in Norwegian.

See the presentation (pdf)

The fund's return in the first half of 2021

9.4 percent

990 billion kroner

The fund returned 9.4 percent, or 990 billion kroner, in the first half of 2021. The return on the fund's investments was 0.28 percentage point higher than the benchmark index the fund is measured against.

13.7% return on equity

The equity investments returned 13.7 percent.

-2.0% return on fixed income

The fixed-income investments returned -2.0 percent.

4.6% return on real estate

The unlisted real estate investments returned 4.6 percent.

-1.9% return on infrastructure

The unlisted renewable energy infrastructure investments returned -1,9 percent.

The market value at end of first half 2021

11,673 billion kroner

The fund's market value was 11,673 billion kroner at the end of first half 2021.

8,452 billion kroner

The equity investments had a market value of 8,452 billion kroner. This was to 72.4 percent of the fund's total value.

2,925 billion kroner

The fixed-income investments had a market value of 2,925 billion kroner. This was to 25.1 percent of the fund's total value.

281 billion kroner

The unlisted real estate investments had a market value of 281 billion kroner. This was to 2.4 percent of the fund's total value.

14 billion kroner

The unlisted renewable energy infrastructure investments had a market value of 14 billion kroner. This was to 0.1 percent of the fund's total value.