Oil fund returned 2.7 percent last year

Oil fund returned 2.7 percent last yearOslo. Yngve Slyngstad, CEO of Norges Bank Investment Management.Photo: Lise Åserud / NTB scanpix

In 2015 the Oil fund yielded a return of 2.7 per cent. This equates to 334 billion.
This was revealed when the fund, or the Oil Fund, presented its annual report for 2015 in Oslo on Wednesday. The fund itself describes the outcome as satisfactory in a turbulent year.
Equity investments yielded a return of 3.8 per cent, while the return on fixed income investments was at 0.3 per cent.
– 2015 has been a turbulent year with negative interest rates, exchange rate volatility, falling oil prices and weaker expectations for growth in emerging markets,  oil Fund chief Yngve Slyngstad said.
Has fluctuated
Slyngstad is the head of Norges Bank Investment Management, the Department of Norges Bank in charge of the management of the fund.
– There have been fluctuations in return from quarter to quarter, but overall it has been a satisfactory result from the administration, he said.
The overall return on equity and fixed income investments was 0.5 percentage points higher than the benchmark indices’ return.

 

Source: NTB scanpix / Norway Today

Be the first to comment on "Oil fund returned 2.7 percent last year"

Leave a comment

Your email address will not be published.


*