4851_not-searchable
/en/bank-og-finansmarked/statistikker/pensjonsfond/arkiv
4851
Large increase for pension funds
statistikk
2004-12-09T10:00:00.000Z
Banking and financial markets
en
pensjonsfond, Pension funds, private pension funds, municipal pension funds, profit and loss account, shares, bonds, lending, borrowers, issuersFinancial institutions and other financial corporations, Banking and financial markets
false

Pension funds, 2003

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Large increase for pension funds

Earnings soared for private, municipal and municipal enterprises pension funds in 2003 compared with 2002. The improvement is mainly attributed to a significant increase in the securities market, which has given the pension funds considerable gains on securities.

Private pension funds had a NOK 1 667 million surplus in 2003, compared with a NOK 2 265 million deficit in 2002. Municipal pension funds had a surplus of NOK 611 million in 2003, while the municipal enterprises pension funds had a surplus of NOK 41 million in the same period.

The surge in profit may be viewed in connection with the performance in the securities market.

Net earnings from securities and real estate amounted to NOK 6 089 million for private pension funds, NOK 1 051 million for municipal pension funds and NOK 353 million for municipal enterprises pension funds.

Net financial income from securities and real property

Total assets for private pension funds increased by 22 per cent to NOK 74 billion in 2003 - mainly because of the improvement in the security market. Municipal pension funds increased their total assets by 14 per cent, from NOK 19 billion in 2002 to NOK 21.7 billion in 2003. Municipal enterprises pension funds increased their total assets by 33 per cent in the same period - from NOK 4.6 billion to NOK 6 billion. The large increase in total asset for the municipal enterprises is mainly because of one more pension fund.

83 per cent of private pension funds' total assets consist of investments in securities. Corresponding figures for municipal and municipal enterprises pension funds were 81 and 84 per cent respectively.

Investments in shares for private pension funds increased by 59.7 per cent from 2002 to 2003, from NOK 13.1 billion to NOK 20.9 billion. Holdings of bonds increased by 9.6 per cent, while lending increased by 16.4 per cent in the same period. For the municipal pension funds investments in shares and participation increased by 33 per cent, from NOK 2.9 billion in 2002 to NOK 3.9 billion in 2003. Bonds increased by 24 per cent, to NOK 13.4 billion in 2003, while lending decreased by 7 per cent from 2002 to 2003. Municipal enterprises pension funds increased their investments in shares by 38.1 per cent to NOK 1.7 billion in 2003. Holdings of bonds increased by 33.7 per cent to NOK 3.2 billion, while lending increased by 9 per cent from 2002 to 2003.

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