2,511 billion kroner return in 2024

The return on the fund’s equity investments was 18 percent, the return on the fixed income investments was 1 percent, whereas investments in unlisted real estate returned -1 percent. The return on unlisted renewable energy infrastructure was -10 percent. 
 
The fund’s return was 45 basis points lower than the return on the benchmark index. 
 
“The fund achieved very good returns in 2024, as a result of a very strong stock market. The American technology stocks in particular performed very well”, says CEO Nicolai Tangen of Norges Bank Investment Management. 
 
The krone depreciated against several of the main currencies during the year. The currency movements contributed to an increase in the fund’s value of 1,072 billion kroner. Inflow into the fund amounted to 402 billion kroner. 
 
The fund had a value of 19,742 billion kroner as of 31 December 2024. 71.4 percent of the fund was invested in equities, 26.6 percent in fixed income, 1.8 percent in unlisted real estate, and 0.1 percent in unlisted renewable energy infrastructure.