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Returns

The fund seeks to achieve the highest possible long-term return with an acceptable risk.

Returns in international currency

The fund is invested in international securities. Returns are generally measured in international currency – a weighted combination of the currencies in the fund’s benchmark index for equities and bonds. The fund’s currency basket consisted of 34 currencies at the end of the first quarter of 2017. Unless otherwise stated in the text, results are measured in this currency basket.

The Norwegian government first transferred capital to the fund in May 1996. By the end of the first quarter of 2017, the fund had received a total of 3,375 billion kroner and amassed a cumulative return of 3,420 billion kroner.

The fund generated an annual return of 5.8 percent between 1 January 1998 and the end of the first quarter of 2017. After management costs and inflation, the annual return was 3.9 percent.

Quarterly return and accumulated annualised return

Percent

Quarterly relative return and accumulated annualised relative return

Calculations based on aggregated equity and fixed-income investments until end of 2016. Percentage points

Annual return on the fund. Percent

 
  Total Equity Fixed income Real estate
1 9 months; from 31 March 2011
1Q 2017 3.78 5.53 0.77 0.62
2016 6.92 8.72 4.32 0.78
2015 2.74 3.83 0.33 9.99
2014 7.58 7.90 6.88 10.42
2013 15.95 26.28 0.10 11.79
2012 13.42 18.06 6.68 5.77
2011 -2.54 -8.84 7.03 -4.371
2010 9.62 13.34 4.11  
2009 25.62 34.27 12.49  
2008 -23.31 -40.71 -0.54  
2007 4.26 6.82 2.96  
2006 7.92 17.04 1.93  
2005 11.09 22.49 3.82  
2004 8.94 13.00 6.10  
2003 12.59 22.84 5.26  
2002 -4.74 -24.39 9.90  
2001 -2.47 -14.60 5.04  
2000 2.49 -5.82 8.41  
1999 12.44 34.81 -0.99  
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Annual relative return on the fund's equity and fixed-income investments. Percentage points

Year Total Equity Fixed income
1Q 2017 0.09 -0.02 0.37
2016 0.15 0.15 0.16
2015 0.45 0.83 -0.24
2014 -0.77 -0.82 -0.70
2013 0.99 1.28 0.25
2012 0.21 0.52 -0.29
2011 -0.13 -0.48 0.52
2010 1.06 0.73 1.53
2009 4.13 1.86 7.36
2008 -3.37 -1.15 -6.60
2007 -0.24 1.15 -1.29
2006 0.14 -0.09 0.25
2005 1.06 2.16 0.36
2004 0.54 0.79 0.37
2003 0.55 0.51 0.48
2002 0.30 0.07 0.49
2001 0.15 0.06 0.08
2000 0.27 0.49 0.07
1999 1.23 3.49 0.01
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