Annual report 2009

• Gains in international equity and fixed income markets boosted thee of the Government Pension Fund Global in 2009. The fund had a record return of 25.6 percent, equivalent to 613 billion kroner. That compares with -23.3 percent in 2008 when global securities markets tumbled.
•  The fund’s return was 4.1 percentage points higher than the return on the benchmark portfolio in 2009. The fixed income portfolio had an excess return of 7.4 percentage points, while the equity portfolio’s excess return was 1.8 percentage points.
• The fund’s market value rose by 365 billion kroner to 2 640 billion kroner in 2009.
• Capital transfers to the fund amounted to 169 billion kroner in 2009. That is the lowest level since 2004 and less than half of the amount in 2008.
• Equities made up 62.4 percent of the fund’s total investments at the end of 2009, while fixed income instruments constituted 37.6 percent of the investments.
  

Read the report as PDF  or E-book

You can also order a hard copy  here:  servicesenter@norges-bank.no please specify you order.

Only on internet:

Holdings equity (PDF 641KB)
Holdings bonds (PDF 198KB)
Disclosure and voting record (PDF 2MB)
Composition of benchmark portfolio (PDF 44KB)
Methodology for the calculation of returns (PDF 46KB) 
GIPS-compliant performance (PDF 160KB) 
- GIPS Manual 
- Ernst & Young GIPS verification report
Provisions on the management of the Government Pension Fund Global (Ministry of Finance)
Executive Board’s principles for risk management and investment mandate in NBIM
Exclusion of companies (Ministry of Finance)

Presentation from the press conference (PDF)