Annual report 2021

The fund celebrated its 25th anniversary in 2021, and the period must be seen as an enormous financial success. Only a quarter of a century from the first inflow of just under 2 billion kroner in 1996, the fund ended the year with a value of 12 339 549 465 702 kroner. The fund returned 14.5 percent or 1,580 billion kroner in 2021, and this in another year hit by the pandemic and volatile markets.

Published: 3 March 2022
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      Key figures 2021

      Chair of the Executive Board Øystein Olsen introduced the press conference, while CEO Nicolai Tangen and Deputy CEO Trond Grande presented the fund’s key figures for 2021. Some of our experts provided a deeper insight into their areas and sectors.

      Return in 2021

      14.5
      percent
      1,580
      billion kroner

      The fund returned 14.5 percent, or 1,580 billion kroner, in 2021. The fund's total return was 0.74 percentage point higher than the return on the benchmark index.

      20.8%
      return on equity

      The equity investments returned 20.8 percent.

      -1.9%
      return on fixed income

      The fixed-income investments returned -1.9 percent.

      13.6%
      return on real estate

      The unlisted real estate investments returned 13.6 percent.

      4.2%
      return on infrastructure

      The unlisted renewable energy infrastructure investments returned 4.2 percent.

      Market value

      12,340 billion kroner

      The funds market value was 12,340 billion kroner at the end of 2021, up from 10,914 billion kroner a year earlier.

      Equities
      8,878 billion kroner

      The equity investments had a market value of 8,878 billion kroner. This was to 72.0 percent of the fund's total value.

      Fixed income
      3,135 billion kroner

      The fixed-income investments had a market value of 3,135 billion kroner. This was to 25.4 percent of the fund's total value.

      Real estate
      312 billion kroner

      The unlisted real estate investments had a market value of 312 billion kroner. This was to 2.5 percent of the fund's total value.

      Infrastructure
      14 billion kroner

      The unlisted renewable energy infrastructure investments had a market value of 14 billion kroner. This was to 0.1 percent of the fund's total value.

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