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Q3 2021: Strong management performance

The Government Pension Fund Norway, which is managed by Folketrygdfondet, achieved a return of 2.9% in the third quarter of 2021 – 1.0 percentage points better than the market. Folketrygdfondet has not achieved a higher margin since 2008. The fund capital increased by NOK 9 billion during the quarter, to NOK 326 billion.

“We maintained our positive momentum in the third quarter following a marked increase in share prices. The Norwegian stock market has performed well, not least thanks to rising energy prices,” says Folketrygdfondet CEO Kjetil Houg.

The return on the Government Pension Fund Norway in Q3 2021 totalled 11.7%, 1.2 percentage points above the market return.

“Our strategy has paid off, with our active investment activities boosting profits above the market return,” says Kjetil Houg.

The equity portfolio achieved a quarterly return of 4.7%, 1.4 percentage points higher than the equities benchmark index. The return on the fixed-income portfolio was -0.1%, 0.2 percentage points better than the fixed-income benchmark.

Over the past 10 years, the GPFN has achieved an average annual return of 10.4%, beating the market by 0.8 percentage points per year.