2019 was a great year in the fund’s history, driven by positive equity returns in all of the fund’s principal markets and in all equity sectors. The fund had it's highest return measured in kroner in a single year in the fund’s history. It is also the second best return measured as a percentage. This also gave the greatest increase in value in a single year in the fund’s history.
Chairman of the Executive Board Øystein Olsen and the fund's CEO Yngve Slyngstad presented the 2019 results for the Government Pension Fund Global at a press conference at Norges Bank. The press conference was in Norwegian.
The fund returned 19.9 percent, or 1,692 billion kroner, in 2019. This is the highest return in kroner in a single year in the fund's history and the second best year in percent. The fund's total return was 0.23 percentage points higher than the return on the benchmark index.
The equity investments returned 26.0 percent.
The unlisted real estate investments returned 6.8 percent.
The fixed-income investments returned 7.6 percent.
The funds market value was 10,088 billion kroner at the end of 2019, up from 8,256 billion kroner a year earlier. This is the largest increase in the fund's value in a single year in the fund's history.
The equity investments had a market value of 7,145 billion kroner. This was to 70.8 percent of the fund's total value.
The unlisted real estate investments had a market value of 273 billion kroner. This was to 2.7 percent of the fund's total value.
The fixed-income investments had a market value of 2,670 billion kroner. This was to 26.5 percent of the fund's total value.