Fund Performance

Government Pension Fund Norway (GPFN)

GPFN annual geometric average return. Measured in the Fund currency basket. Per cent Last 12 months Last 3 years Last 5 years Last 10 years 2007-juni 2021 Last 20 years
GPFN            
Portfolio 23.63 8.27 9.85 9.10 7.86 8.27
Benchmark index

   22.83

  7.78

  9.21

  8.46

  6.90

7.72

Excess return (percentage points)

   0.80

  0.49

  0.64

  0.64

  0.96

0.54

             
Equities1            
Portfolio

   40.27

 10.42

 14.05

 11.60

  8.45

 10.28

Benchmark index

   39.53

 10.38

 13.67

 11.10

 7.23

  9.34

Excess return (percentage points)

  0.73

  0.04

  0.38

  0.50

  1.22

  0.93

             
Fixed income2            
Portfolio

0.33

  4.10

  3.00

  4.71

  5.34

  5.57

Benchmark index

   -0.62

  2.95

  2.00

  3.82

  4.50

  5.13

Excess return (percentage points)

   0.95

  1.15

  1.00

  0.89

  0.85

  0.44

             
Real return            
Inflation

   2.85

  2.05

  2.12

  2.13

  2.15

  1.95

Management costs

   0.06

  0.06

  0.07

  0.08

  0.08

  0.06

Net real return

20.14

  6.03

  7.50

  6.75

  5.52

  6.14

1 Nordic equity investments commenced in May 2001.

2 Nordic fixed income investments commenced in February 2007.

Sources: Folketrygdfondet, Macrobonod and Ministry of Finance