NORWAY - The impact of market turmoil on Norwegian Government Pension Fund - Global returns in Q3 has been offset by rising bond prices.
The return on the fund in Q3 was 1.15% measured in terms of the currency basket corresponding to the composition of the fund's benchmark portfolio, Norges Bank reported.
The return was positive in August and September, but negative in July following a sharp drop in prices in equity markets.
Over the quarter as a whole, there was a negative return on the equity portfolio of 0.3% per cent. The fixed income portfolio produced a positive return of 2.1%.
The market value of the state pension fund fell from NOK 1.939 trn (US$358.8) to NOK 1.932 trn ($357.5bn) during the third quarter.
The fund has grown by NOK 220bn in the last 12 months. NOK 293bn has been transferred to the fund, and there has been a return on investment of NOK 145bn, while a stronger krone in relation to the investment currencies has reduced the value of the fund by NOK 218bn.
The Pensions Regulator (TPR) has set out plans to use "new regulatory initiatives" with over 1,000 schemes as it aims to tighten its regulatory grip and boost member outcomes.
HM Revenue and Customs (HMRC) has announced it is delaying the provision of data that will enable pension schemes to confirm the guaranteed minimum pension (GMP) benefits to pay to members until the end of the year.
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