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.
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.
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.
The values in the chart below are in percent.
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.
Values in billions of kroner since inception.
| 31.03.2024 | 31.12.2023 | |
|---|---|---|
| 1 Total withdrawal of capital shown in this table is adjusted for accrued, not paid, management fees. | ||
| Total inflow of capital | 5,551 | 5,455 |
| Total withdrawal of capital1 | -687 | -687 |
| Total return | 9,803 | 8,592 |
| Management fees | -72 | -70 |
| Accrued, not paid, management fees | 2 | 0 |
| Changes due to fluctuations in krone | 3,122 | 2,474 |
| Market value of fund | 17,719 | 15,765 |
As at 31 March 2024. Measured in the fund's currency basket.
| Since 01.01.1998 | Last 10 years | |
|---|---|---|
| Return on fund | 6.28 | 7.19 |
| Annual inflation | 2.13 | 2.49 |
| Annual management costs | 0.08 | 0.05 |
| Net real return on fund | 3.99 | 4.54 |