The fund's market value increased by 1,954 billion kroner to 17,719 billion kroner in the first quarter of 2024. The fund returned 6.3 percent, equivalent to 1,210 billion kroner. This was 0.10 percentage point below the return on the benchmark index.
“Our equity investments had a very strong return in the first quarter, particularly driven by the tech sector”, says Deputy CEO of Norges Bank Investment Management Trond Grande.
At the end of the first quarter of 2024, the fund's market value was 17,719 billion kroner
The fund’s equity investments had a market value of 12,779 billion kroner, fixed-income investments 4,608 billion kroner, unlisted real estate investments 315 billion kroner and renewable energy infrastructure 16 billion kroner. Equities made up 72.1 percent of the fund, fixed income 26.0 percent, unlisted real estate 1.8 percent and renewable energy infrastructure 0.1 percent.
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The chart has 1 X axis displaying Time. Data ranges from 2023-03-31 00:00:00 to 2024-03-31 00:00:00.
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The fund's market value increased by 1,954 billion kroner through the first quarter. 1,210 billion kroner was return on the investments, 96 billion kroner was net inflows from the government and 647 billion kroner came from currency movements. The values in the chart below are in billions of kroner.
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Combination chart with 4 data series.
The chart has 1 X axis displaying Time. Data ranges from 2023-03-31 00:00:00 to 2024-03-31 00:00:00.
The chart has 2 Y axes displaying values, and values.
The chart has 1 X axis displaying Time. Data ranges from 2023-03-31 00:00:00 to 2024-03-31 00:00:00.
The chart has 2 Y axes displaying values, and values.
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The return on the fund’s equity investments was 9.1 percent, the return on the fixed-income investments was -0.4 percent, whereas investments in unlisted real estate returned -0.5 percent. The return on unlisted renewable energy infrastructure was -11.4 percent. The values in the chart below are in percent.
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Bar chart with 4 data series.
The chart has 1 X axis displaying Time. Data ranges from 2023-03-31 00:00:00 to 2024-03-31 00:00:00.
The chart has 2 Y axes displaying values, and values.