Norway's Oil Fund had a return of 990 billion kroner in the first half of 2021

Norway’s Oil Fund had a return of 990 billion kroner in the first half of 2021

The Oil Fund had a return of 9.4% in the first half of 2021. That corresponds to NOK 990 billion.

Thus, the fund had a total value of NOK 11,673 billion as of June 30 this year, Norges Bank writes.

“Equity investments contributed the most to the return in the first half of the year, and especially investments in the energy and finance sectors. The investments in the energy companies received a return of 19.5%,” Oil Fund chief Nicolai Tangen stated.

Overview of returns

During the corona pandemic, equities in health and technology have also had solid returns.

The return on the fund’s equity investments was 13.7% in the first half of the year, and for unlisted real estate, a return of 4.6% was obtained. 

The fund’s return was 28 basis points higher than the return on the benchmark index.

However, the fund’s value was also affected by the fact that the krone exchange rate has strengthened against several currencies. This reduced the Oil Fund’s value by NOK 79 billion.

During the first half of the year, NOK 147 billion was withdrawn from the fund.

Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance

Internet Explorer Channel Network
News Related

OTHER NEWS

Norway's new Minister of Trade and Industry has a fortune valued at more than 50 million kroner

With a fortune of NOK 52 million, Minister of Trade and Industry Jan Christian Vestre (AP) is the government’s second-wealthiest multimillionaire.  He owns 70% of the company that bears the ... Read more »

Fed to ban policymakers from owning individual stocks, restrict trading following controversy

The Marriner S. Eccles Federal Reserve building in Washington, D.C., on Friday, Sept. 17, 2021.Stefani Reynolds | Bloomberg | Getty Images Responding to a growing controversy over investing practices, the ... Read more »

Expanded child tax credit may last for 1 more year instead of 5 as Democrats cut economic plan

Getty Images The enhanced child tax credit has sent monthly checks to millions of American families since July. Now, it's one of the programs on the chopping block as Democrats ... Read more »

What to expect as Education Department gets ready to resume student loan payments

The U.S. Department of Education in Washington, D.C.Caroline Brehman | CQ-Roll Call, Inc. | Getty Images In March 2020, the U.S. Department of Education offered the millions of Americans with ... Read more »

Tromsø: 32 new corona cases detected in the last 24 hours

In the last 24 hours, 32 new corona infection cases have been registered in Tromsø.  Furthermore, 141 people are now in isolation due to COVID-19, according to the newspaper Nordlys. ... Read more »

The worst-off of Istanbul: Pakistani and Afghan waste paper collectors

This article first appeared on our partner site, Independent Turkish © Independent Turkey The jobs of the waste paper collectors are under threat – Independent Turkey Waste paper collectors across ... Read more »

The fiery history of Trondheim, Norway's third-largest city

The story behind the Norwegian city of Trondheim spans centuries and tells a tale of kings, fires, and religion. Trondheim is Norway’s third-largest city, with its charming narrow streets and ... Read more »

Støre defends VAT on expensive electric cars: “We can use the money to build more charging stations”

The money the government collects from imposing VAT on expensive electric cars can be used to build charging stations, Prime Minister Jonas Gahr Støre (AP) said on Thursday. The Labor ... Read more »

Goldman Sachs wants to build an investor-friendly SPAC business following market bust

A trader works on the floor of the New York Stock Exchange (NYSE) in New York, Sept. 20, 2021.Michael Nagle | Bloomberg | Getty Images Goldman Sachs just closed its ... Read more »

1 in 5 gig drivers got unemployment benefits at pandemic peak

hxyume | E+ | Getty Images About 1 out of every 5 drivers in the gig economy was collecting unemployment benefits at the pandemic's peak, according to a new analysis ... Read more »

Kongsberg Group signs NOK 4 billion contract with Norway's Armed Forces for the delivery of missiles

The Kongsberg Group will provide the Armed Forces with missiles for Norwegian F-35 fighter jets. The contract is worth NOK 4 billion and is one of the largest arms acquisitions ... Read more »

Low-income households in Scotland falling behind on bill payments, report reveals

Almost a third of low-income households in Scotland are behind on bill payments, a report from the Joseph Rowntree Foundation (JRF) has warned. © People in low income households are ... Read more »

Two under-the-radar stocks could help hedge against inflation, trader says

Rising concerns around inflation have one trader looking past the market's most popular names for protection. “In these markets, we want stocks that are able to maintain their margins and ... Read more »

A majority in the Norwegian parliament is in favor of crisis measures against high electricity prices

The government parties will vote for the SV’s proposal to increase housing benefits and social assistance to remedy high electricity bills, Norwegian Broadcasting (NRK) reports. The Labor Party’s and the ... Read more »

Fraudsters trying to convince people to ignore ‘no match' bank transfer warnings

Fraudsters are trying to convince people to ignore “no match” warnings when the bank account they are transferring money into does not match the name of the person they think ... Read more »

Legal costs for families of R116 victims to be resolved ‘very quickly' – Ryan

© Julien Behal Photography Transport Minister Eamon Ryan said the issue of legal costs imposed on the families of the victims of the Irish Coast Guard helicopter R116 crash ‘will ... Read more »

Police: Most of the Kongsberg attack victims were killed in their own homes

Of the five people killed in the Kongsberg attack last week, most were killed in their own homes, according to the police. “We know that the accused man killed five ... Read more »

Former Justice Minister Monica Mæland becomes a partner in one of Norway's largest law firms

Monica Mæland will work as a lawyer again. She is becoming a partner in Schjødt, one of Norway’s largest law firms. “Others are better than me at sitting in the ... Read more »

London borough with highest-risk mortgages in all of Britain revealed

Home buyers in Wandsworth take out more mortgages classified as “highrisk” than anywhere else in the country, figures reveal on Thursday. © PA PA-61549958.jpg The south-west London neighbourhood, seen as ... Read more »

SL Green (SLG) Q3 FFO Surpasses, Revenues Miss Estimates

SL Green Realty Corp. SLG delivered third-quarter 2021 funds from operations (FFO) per share of $1.78, beating the Zacks Consensus Estimate of $1.58. Further, the reported figure compares favorably with ... Read more »

Bookingjini Raises $1.2 Mn From Mumbai Angels Network

Mumbai Angels Network, a startup investment platform for early-stage venture investments, announced to have invested $1.2 million out of a total investment of $3.3 million in Bookingjini, a hospitality SaaS ... Read more »

Crown Castle (CCI) Surpasses Q3 FFO and Revenue Estimates

Crown Castle International Corp.’s CCI third-quarter 2021 adjusted funds from operations (AFFO) per share of $1.77 surpassed the Zacks Consensus Estimate of $1.72. Moreover, the figure came in 13% higher ... Read more »

Having More than Once Source of Income Can Make You Rich. Here's How to Make it Happen

Did you know that really rich people rely on several sources of income — not just one?  Depositphotos.com contributor/Depositphotos.com – MarketBeat The reality is that a total of 54% of ... Read more »

Old Second Bancorp (OSBC) Q3 Earnings and Revenues Surpass Estimates

Old Second Bancorp (OSBC) came out with quarterly earnings of $0.29 per share, beating the Zacks Consensus Estimate of $0.28 per share. This compares to earnings of $0.34 per share ... Read more »

Edtech Startup Questt Raises $6.75 Mn In Series A Fund

Questt, an edtech startup, focused on improving learning outcomes by enabling predictive and adaptive learning, on Thursday announced that it has raised $6.75 million in Series A funds. The round ... Read more »

3 Transportation Stocks That Could Deliver Big Gains

As we head into earnings season again, one of the things investors are going to hear over and over again is how supply chain issues are impacting all different types ... Read more »

CSX Surpasses Q3 Earnings & Revenue Estimates, Shares Gain

CSX Corporation’s CSX third-quarter 2021 earnings of 43 cents per share surpassed the Zacks Consensus Estimate of 38 cents. The bottom line surged 34.4% year over year owing to higher ... Read more »

Risk-management Platform Rubix Data Sciences Raises Funding From Cactus Venture Partners

Cactus Venture Partners (CVP), a purpose-driven, early growth stage venture capital fund has announced pre-Series A investment in Rubix Data Sciences, technology and analytics-driven B2B risk management and monitoring platform, ... Read more »

Doyobi Raises $2.8 Mn Pre-Series A Led By Monk's Hill Ventures

Doyobi, a provider of STEM teaching resources and teacher professional development to schools through its virtual learning environment (VLE), recently announced it has closed a $2.8 million Pre-Series A round ... Read more »

ID Verification Company IDfy Raises INR 86 Cr From TransUnion And Blume Ventures

IDfy, a Mumbai-based ID verification and onboarding solutions company, on Thursday, announced to have raised an investment of INR 86 Crore in its Series D round of funding led by ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic