The Government Pension Fund Norway, which is managed by Folketrygdfondet, recorded a loss of NOK 31.5 billion in the first quarter of 2020, equivalent to a return of -11.7%. The fund capital totalled NOK 237.3 billion at quarter-end.
The Government has decided to revive the Government Bond Fund to help secure access to loan capital for businesses during the ongoing Corona crisis. Folketrygdfondet, which previously managed the Government Bond Fund during the financial crisis, has been mandated to manage the revived fund.
Folketrygdfondet achieved a return of 12.4%, or NOK 29.5 billion, on the Government Pension Fund Norway in 2019, outperforming the market by 0.4 percentage points – the best performance in Folketrygdfondet’s history. Total assets under management amounted to NOK 269 billion at year-end.