Rising Oil, Salmon Prices Lift Norway Pension Fund

Norway's domestic state pension fund Folketrygdfondet said its 2016 return increased to 7.1 percent from 7.0 percent in 2015, increasing the market value to 212.3 billion Norwegian crowns ($25.12 billion).

 

"Improved outlook for the global economy, rise in oil prices and record high salmon prices ensured solid results for the year," Folketrygdfondet's Chief Executive Olaug Svarva said on Tuesday.

 

The fund says the return beat the market by 1.2 percent.

 

Says there are significant challenges in the salmon industry, problem with salmon lice is the main risk in its investments in salmon farming companies.


($1 = 8.4503 Norwegian crowns)

(Reporting by Camilla Knudsen, editing by Ole Petter Skonnord)