New record high after increase of NOK 9 billion in third quarter

The Government Pension Fund Norway, which Folketrygdfondet manages, recorded a return of 2.84 per cent in the third quarter 2023. The capital amounted to NOK 340 billion at the end of the quarter.
Kjetil Houg, administrerende direktør, foto
Foto: Jarle Nyttingnes

At the end of the third quarter, the total return for the year was 7.02 per cent, thereby outperforming the market by 0.89 percentage points.

‘We have seen a positive development in the equity portfolio, partly as a result of an upturn in the energy sector. For the fixed-income portfolio, there was a slight decline. We are very pleased with the profit performance, which is better than the market for both portfolios,’ says CEO Kjetil Houg.

The return of 2.84 per cent on the Government Pension Fund Norway (GPFN) was 0.36 percentage points higher than the benchmark index in the third quarter.

The return on the equities portfolio was 4.70 per cent in the third quarter. That is 0.21 percentage points higher than the equity benchmark index.

The return on the fixed-income portfolio was -0.07 per cent, which is 0.57 percentage points higher than the fixed-income benchmark index. 

‘We see that our strategies also work well in a market with higher interest rates and moderate growth prospects, ’ says Kjetil Houg.

In the past ten years, the annual return on the Government Pension Fund Norway has been 7.99 per cent. This means that, in the past decade, Folketrygdfondet has outperformed the market by 0.86 percentage points a year. 


See the full report here