Portfolio investments abroad increased by NOK 114 billion

The market value of Norwegian portfolio investments in foreign shares, unit trust units and bonds amounted to a total of NOK 254 billion at the close of 1997, of which bonds accounted for NOK 186 billion, or nearly 75 per cent. By comparison, the corresponding securities holdings at the close of 1996 came to NOK 140 billion.

The Norwegian Government Petroleum Fund is the largest Norwegian investor in foreign bonds, and it increased its holdings by NOK 62 billion in 1997. At the close of 1997 the Petroleum Fund owned bonds valued at NOK 106 billion.

Among other Norwegian investors, foreign bond holdings increased by NOK 17 billion during 1997. At the close of 1997 the bond holdings of the life insurance companies and the banks and mortgage companies came to NOK 45 and NOK 21 billion respectively. With the exception of casualty insurance, the holdings of foreign portfolio bonds were very small among other sectors and industries.

New Statistics
Portfolio survey, 31 December 1997.
For more information contact: Lars.Sundell@ssb.no, tel.: +47 21 09 45 21, or Leiv.Ryalen@ssb.no, tel.: +47 21 09 45 23.

Weekly Bulletin issue no. 10, 1999