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1Q 2010 Quarterly report

The Norwegian Government Pension Fund Global returned 3.9 percent (103 billion kroner) in the first quarter of 2010, helped by gains in global equity and fixed-income markets. The result was 0.4 percentage point higher than the return on the fund’s benchmark portfolio.

The results in brief

  • The Government Pension Fund Global returned 3.9 percent in the first quarter of 2010, driven by gains in global equity and fixed-income markets. The result was 0.4 percentage point higher than the return on the fund’s benchmark portfolio. 
  • The fund’s equity investments returned 4.9 percent, while fixed-income investments returned 2.1 percent measured in international currency.
  • The fund’s market value rose 123 billion kroner to 2,763 billion kroner.
  • Inflows of new capital to the fund were 19 billion kroner, the lowest since the fourth quarter of 2003.
  • The fund had 62.6 percent of its investments in equities and 37.4 percent in fixed-income securities at the end of the first quarter.
  • Norges Bank on March 1 got a mandate to invest as much as 5 percent of the fund in real estate, by reducing fixed-income investments correspondingly.

Webcast from the press conference