2 Historical tables
Table 2.1 Return on the GPFG in 2016, in the last 3, 5, and 10 years, as well as over the period 1998–2016, measured in Norwegian kroner. Annual geometric average. Percent
2016 | Last 3 years | Last 5 years | Last 10 years | 1998–2016 | |
|---|---|---|---|---|---|
GPFG incl. real estate | |||||
Actual portfolio | 1.95 | 13.53 | 14.33 | 7.39 | 6.69 |
Norwegian inflation1 | 3.60 | 2.61 | 2.12 | 2.10 | 2.09 |
Asset management costs | 0.05 | 0.06 | 0.06 | 0.08 | 0.09 |
Return net of costs and inflation | -1.64 | 10.59 | 11.90 | 5.11 | 4.42 |
GPFG excl. real estate | |||||
Actual portfolio | 2.14 | 13.51 | 14.33 | 7.39 | 6.69 |
Benchmark index | 2.00 | 13.56 | 14.12 | 7.33 | 6.43 |
Excess return (percentage points) | 0.14 | -0.05 | 0.21 | 0.06 | 0.26 |
Equity portfolio | |||||
Actual portfolio | 3.67 | 14.69 | 17.95 | 6.92 | 6.67 |
Benchmark index | 3.53 | 14.62 | 17.56 | 6.68 | 6.20 |
Excess return (percentage points) | 0.14 | 0.07 | 0.39 | 0.25 | 0.46 |
Fixed-income portfolio | |||||
Actual portfolio | -0.53 | 11.47 | 8.47 | 6.50 | 5.82 |
Benchmark index | -0.68 | 11.75 | 8.64 | 6.47 | 5.68 |
Excess return (percentage points) | 0.15 | -0.28 | -0.17 | 0.03 | 0.14 |
Real estate portfolio2 | |||||
Actual portfolio | -3.91 | 14.87 | 12.71 | 10.81 |
1 Inflation figures in the table are not based on inflation measured in the currency basket of the Fund, but on Norwegian CPI data.
2 The first real estate investment was made in the first quarter of 2011. Return reported in the column «Last 10 years» is the annualised return since 1 April 2011.
Source Norges Bank, Macrobond and Ministry of Finance.
Table 2.2 Nominal return on the GPFG and inflation1 in selected currencies and measured in the currency basket of the Fund. Annual geometric average. Percent
Year | Currency basket of the Fund | NOK | USD | EUR | GBP | |||||
|---|---|---|---|---|---|---|---|---|---|---|
Return | Inflation | Return | Inflation | Return | Inflation | Return | Inflation | Return | Inflation | |
1997 | 9.07 | 1.75 | 10.83 | 2.62 | -4.01 | 2.29 | 11.87 | 1.53 | -0.16 | 1.89 |
1998 | 9.26 | 0.92 | 19.75 | 2.25 | 15.87 | 1.56 | 7.63 | 1.10 | 14.59 | 1.57 |
1999 | 12.44 | 1.28 | 13.84 | 2.30 | 7.92 | 2.21 | 26.43 | 1.08 | 11.40 | 1.26 |
2000 | 2.49 | 2.02 | 6.53 | 3.13 | -2.91 | 3.36 | 3.66 | 2.14 | 4.75 | 0.83 |
2001 | -2.47 | 1.17 | -5.34 | 3.03 | -6.93 | 2.85 | -1.87 | 2.36 | -4.48 | 1.24 |
2002 | -4.74 | 1.91 | -19.09 | 1.29 | 4.76 | 1.58 | -11.11 | 2.18 | -5.30 | 1.22 |
2003 | 12.59 | 1.57 | 19.96 | 2.45 | 24.92 | 2.28 | 3.92 | 2.13 | 12.34 | 1.34 |
2004 | 8.94 | 2.37 | 3.93 | 0.44 | 14.16 | 2.66 | 5.94 | 2.09 | 6.45 | 1.32 |
2005 | 11.09 | 2.33 | 14.28 | 1.59 | 2.22 | 3.39 | 17.80 | 2.17 | 14.32 | 2.09 |
2006 | 7.92 | 2.13 | 5.89 | 2.26 | 15.16 | 3.23 | 3.01 | 2.24 | 1.01 | 2.30 |
2007 | 4.26 | 3.12 | -3.90 | 0.76 | 10.20 | 2.83 | -0.61 | 2.07 | 8.35 | 2.38 |
2008 | -23.31 | 1.42 | -6.66 | 3.79 | -27.62 | 3.86 | -23.87 | 3.27 | 0.21 | 3.55 |
2009 | 25.62 | 1.82 | 7.88 | 2.11 | 30.77 | -0.37 | 26.69 | 0.33 | 16.42 | 2.24 |
2010 | 9.62 | 1.98 | 9.49 | 2.47 | 8.82 | 1.68 | 16.38 | 1.63 | 12.24 | 3.23 |
2011 | -2.54 | 2.84 | -1.39 | 1.24 | -3.96 | 3.12 | -0.75 | 2.68 | -3.25 | 4.47 |
2012 | 13.42 | 1.98 | 6.70 | 0.77 | 14.42 | 2.09 | 12.66 | 2.51 | 9.39 | 2.78 |
2013 | 15.95 | 1.41 | 25.11 | 2.13 | 14.77 | 1.48 | 9.81 | 1.32 | 12.63 | 2.60 |
2014 | 7.58 | 0.91 | 24.23 | 2.01 | 0.52 | 1.59 | 14.47 | 0.50 | 6.78 | 1.52 |
2015 | 2.74 | 0.86 | 15.54 | 2.12 | -2.13 | 0.13 | 9.02 | 0.00 | 3.54 | 0.00 |
2016 | 6.92 | 1.52 | 1.95 | 3.60 | 4.83 | 1.27 | 7.97 | 0.20 | 25.05 | 0.70 |
1998–2016 | 5.70 | 1.76 | 6.69 | 2.09 | 5.83 | 2.14 | 6.01 | 1.68 | 7.43 | 1.92 |
1997–2016 | 5.87 | 1.76 | 6.90 | 2.11 | 5.31 | 2.15 | 6.30 | 1.67 | 7.04 | 1.92 |
1 Inflation figures in individual currencies presented in the table are not based on inflation measured in the currency basket of the Fund, but on CPI data for each country/currency area.
Source Norges Bank, Macrobond, Thomson Reuters Datastream and Ministry of Finance.