AMWatch

Oil fund 2021 returns almost reach 15 percent

The three last years have been the best in the sovereign wealth fund's history, in NOK terms. CEO Nicolai Tangen and Deputy CEO Trond Grande don't expect the same good times going forward, however.

Nicolai Tangen, NBIM CEO, presenting the 2021 returns for Norway's oil fund | Photo: PR / NBIM press conference

The Norwegian oil fund's manager Norges Bank Investment Management has published its 2021 figures, which show a return of 14.5 percent for the year. This is equivalent to NOK 1,580bn (EUR 157bn) and the return was also 0.74 percent higher than the fund's benchmark.

Returns during the fourth quarter of 2021 amounted to 4.6 percent.

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