OSLO Government Pension Fund-Global, Oslo, lost 1.9% on its investments for the quarter ended June 30, according to a quarterly financial report.
The losses were partially offset by 91 billion Norwegian kroner ($17 billion) in inflows, helping to bring the fund's market value at the end of the second quarter to 1.99 trillion kroner, up 2% from the previous quarter and 2.6% higher than the year-ago quarter.
The second-quarter return topped the fund's custom benchmark by 0.24 percentage points and surpassed the fund's -5.62% first-quarter return.
However, it lagged the 2.23% return in the second quarter 2007.
The fund's equity portfolio, at 52% of total assets, returned -1.6% in the second quarter. Fixed income, the remainder of the fund, lost 1.72%, according to the financial report.