Pension funds, 2000

Profits are about at the same level for both private and municipal pension funds in 1999 and 2000. In 1999 the municipal pension funds showed a NOK 69 million profit, against NOK 225 million profits in 2000. The private pension funds had a small increase in profits from 1999 to 2000, i.e. from NOK 3001 million to NOK 3039 million.

The results for both the municipal pension funds and the private funds are caused by withdrawal of money from the revaluation reserve. Net earnings from securities and real estate amounted to NOK 647 million for municipal pension funds in 2000 as opposed to NOK 1232 in 1999. The corresponding figures for private pensions funds were only NOK 119 million in earnings in 2000 against NOK 5172 in 1999.

Total assets increased

The municipal funds total asset rose by 18.1 per cent in 2000 and amounted to NOK 35.7 billion at the end of the year. Private pension funds increased their total assets by 5 per cent to NOK 62.2 billion. Investments in securities comprised a major part of the total assets: 81.9 and 86 per cent for municipal and private funds respectively. Municipal pension funds increased their investment of shares, units and primary capital certificates by 8 per cent in 2000 up to NOK 7078 million. The portfolio of bonds increased by 21.2 per cent, while holdings of certificates and Treasury bills increased by 28.7 per cent. Lending figures shows minor changes. Figures for private pension funds show that the holding of shares, units and primary capital certificates went up by 4.3 per cent to NOK 19.5 billion. The portfolio of bonds increased by 10.7 per cent to NOK 33.4 billion, while holdings of certificates and Treasury bills were reduced by 50 per cent to NOK 1.4 million. Lending was reduced by 8.2 per cent to NOK 1.7 million.

Tables

Published tables