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First half-year 2019: Strong performance in a hesitant market

Folketrygdfondet achieved a return of 6.6% on the Government Pension Fund Norway during the first six months of 2019, outperforming the market by 0.3 percentage points and bringing total assets under management to NOK 254.8 billion as of 30 June 2019.

Oslo, 27 August 2019

“Folketrygdfondet has delivered strong results in a somewhat hesitant market,” says Folketrygdfondet CEO Kjetil Houg.

In the second quarter of the year, the return on the Government Pension Fund Norway was 1.0%, 0.1 percentage points better than the market return.

Over the past five years, Folketrygdfondet has outperformed the market by 1.0% annually. Over the past 10 years, the excess return averages 0.7 percentage points per year.

“The combination of low interest rates and strong economic growth had a positive effect on returns, although the Norwegian market was also negatively impacted by falling oil prices,” says Kjetil Houg.