Norweigan pension funds saw “positive” returns and “good” results in the first half of 2024, with their buffer increasing by NOK 7.2bn, according to the Norwegian Financial Supervisory Authority (Finanstilsynet).  

Finanstilsynet credited these “positive” returns to the upturn in international equity markets.

It also said that the increase in the value of shares and income from the realisation of shares were the main contributors to positive income from investments in the collective portfolio.

The annualised return on the collective portfolio for the pension funds, which included the unrealised changes in value, was at 11.2 per cent.

Meanwhile, private pension funds achieved a return of 12.3 per cent, while municipal pension funds saw a return of 10 per cent (annualised figures).

The average return for life insurance companies' collective portfolios, including Oslo Pensjonsforsikring (OPF) and KLP, was 7.6 per cent (annualised) in the same period, with OPF boosting this average.

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