Norway SWF Experiences Growth in 1Q of 2021
Posted on 04/21/2021
Norway Government Pension Fund Global upticked its investment portfolio to 11,034 billion NOK at March 31, 2021. 382 billion kroner in return was generated for the quarter, with equities being the largest driver at a 6.6% quarterly return vs fixed income at a -3.2% quarterly return. The fund’s return was 24 basis points higher than the return of the benchmark index.
The SWF has 73.1% allocated to equity investments vs. 24.5% in fixed income.
“The equity investments had the most positive contribution to the return in the quarter. The rise of the equity market was to a great extent driven by the finance and energy sector”, says Deputy CEO at Norges Bank Investment Management, Trond Grande in a press release.