Fixed-income investments returned 2.0 percent, and equity investments 1.5 percent. The return on these investments was 0.01 percentage point higher than the return on the benchmark indices. Investments in real estate returned 2.0 percent.

"All asset classes contributed positively to the result and there were only minor differences between them. The return was boosted by lower interest rates in the fund's main markets, says Yngve Slyngstad, CEO of Norges Bank Investment Management, the fund's manager.

The krone strengthened against many of the main currencies during the quarter, which decreased the fund's value by NOK 47 billion, and new capital of NOK 41 billion was transferred to the fund from the government.

The fund had a market value of NOK 5 110 billion at the end of the quarter, of which 61.1 percent was invested in equities, 37.7 percent in fixed income and 1.2 percent in real estate. 

• Quarterly report Q1 2014 (Norges Bank Investment Management)

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