Pension funds with positive revenue in 2009
After a negative result in 2008, pension funds again have a positive result in 2009. The main cause for this positive development was the strong development in the security markets throughout 2009.
Profit before tax for the pension funds amounted to NOK 3.2 billion by the end of 2009. In 2008, the pension funds had a deficit of NOK 4.7 billion. The main reason for this improvement was, as mentioned above, the strong development in the security markets.
The pension funds had profits on financial assets of almost NOK 14.5 billion in 2009, compared to losses of NOK 21 billion in 2008.
Increase in total assets again
The strong growth in the Norwegian and the international security markets led to an increase in total assets of 16.4 per cent in 2009, from NOK 162 billion in 2008 to NOK 188 billion in 2009. Investments in securities constitute a large portion of total assets. In 2009, 90.6 per cent of total assets were invested in securities. In 2008, the equivalent number was 89.3 per cent.
The stock of investments in subsidiaries and other shares, participation and primary capital certificates increased by NOK 22.1 billion in 2009, and thus accounted for 39.2 per cent of total assets.
The holding of bonds increased by NOK 4.1 billion in 2009 to a total of NOK 96 billion, and thus accounted for 50.1 per cent of total assets.
Source: Statistics Norway