its oil wealth has the last time been well-paid for the investments.
Between July and september was the return from the shares of 6 per cent, shows the preliminary results for the Government pension fund global in this year’s third quarter.
– There was a broad upturn in all regions where the fund is invested, ” says Trond Grande, deputy head of Norges Bank Investment Management (NBIM).
It went extra well in the konjunkturfølsomme sectors such as consumer goods and technology, he adds.
Investments in securities gave a return of 0.9 per cent, which meant that the total return came in at 0.2 per cent over the terms of the benchmark return.
Investments in real estate had a return of 2.4 per cent. The total markedsavkastningen was 4 per cent.
Took the money
But despite the fact that the investment gave positive returns on a total of 240 billion, fell the value of the fund by 58 billion between July and september.
It is caused by two things. For the first strengthened the krone exchange rate against hovedvalutaene in the course of the quarter. The reduced fund size with 268 billion.
– the Fund is only invested abroad. When to imaginary switch this back to Norwegian kroner, has something to say how the exchange rate has gone against the currencies in which the shares are invested in, ” says Grande to E24.
It was a pretty significant kronestyrking in the quarter. Then fall the value in Norwegian kroner, ” he says, and points out that it does not have anything to say for the purchasing power of the fund in abroad.
Siv Jensen: – Oljefesten is over
In addition, minister of finance Siv Jensen, and the government taken out a further 30 billion of the fund for use in the state.
It is the third quarter in a row that it’s taken money out of the fund. Previous years it has been the added money to the fund.
At the end of september was the size of its oil wealth 7.119 billion. It is markedly lower than at the beginning of the year when the fund’s value was 7.421 billion
Brexit-jump on the property
Eiendomsinvesteringene had a negative return in this year’s first and second quarter, but in the third quarter was a solid yield of 2.4 percent.
The government will evaluate the management of oljepengene to spring
It is caused by, among other things, that the value of the properties in the united Kingdom have been revised upwards in the wake of brexit.
– Previous quarter ended six days after the referendum. When selected takstmennene, looking at the buildings, saying that the uncertainty around the estimates was greater than they tend to be, ” says Grande.
We took account of the uncertainty by reducing the value. Now says takstmennene that the uncertainty that was then, not here anymore.
It makes that the value of the properties will be revised upward again.
its oil wealth has 60,6 per cent was invested in shares, 36,3 per cent in fixed income and 3.1 percent in real estate. The final interim report comes 28. October.
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