3Q 2006 Quarterly report
The value of the Government Pension Fund - Global increased by NOK 207 billion in the third quarter, to NOK 1 712 billion. The Fund is now the largest pension fund in Europe.
After a sharp drop towards the end of the second quarter, equity prices in the largest global markets rallied in the third quarter. Companies in the telecommunications and utilities sectors performed best, while falling oil prices led to a downturn in oil & gas shares. After falling in both the first and second quarters, bond prices recovered in the third. Over the first three quarters as a whole, returns were positive in all of the main bond markets.