Government Pension Fund in Norway increased by 5.1 billion Kroner

Norwegian money property tax National Insurance FundNorwegian money. Photo: pixabay.com

The government pension fund in Norway presented a solid result for the second quarter and reported an increase in value of 5.1 billion Kroner.

The rise in the government pension fund in norway reported that in the second quarter the gains are greater than the decline in Q1, and the fund has increased in value by 0.4 percent to 199.1 billion kroner in the first half of 2016.

– The markets at the end of the second quarter marked by Britain’s referendum on withdrawal from the EU, had resulted in increased uncertainty and expectations of further monetary and fiscal stimulus internationally.

Confidence fell to new lows, the stock market has reversed the decline we saw in the beginning of the year, says CEO Olaug Svarva.

It is the Folketrygdfondet that manages capital in the Government Pension Fund in Norway and the fund is divided into an equity portfolio and a fixed income portfolio. It is especially the equity portfolio that contributed to the rise in Q2.

The return was 3.6 percent, which is 0.5 percentage points better than the rest of the market. According to Dagens Næringsliv the investment in aquaculture stocks have contributed to the pension fund, which owns five percent of the Oslo Stock Exchange and 10 percent of the shares on the main index, and is shattering markets.

The fund’s equity holdings at the end of June are, Statoil, Telenor, DnB and Orkla.

 

Source: NTB scanpix / Norway Today

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