Norway’s KLP generated a return of NOK 7.2bn in the first half of 2021, it has revealed.

This figure is above what it had guaranteed to its customers; the value-adjusted return on customers' funds was 4.4 per cent, while the book return was 2.6 per cent. KLP CEO, Sverre Thornes, said “solid returns” in the stock market contributed well to KLP’s result.

Over the first half, paid pensions and other claims, excluding transferred reserves, amounted to NOK 10.8bn. Total assets in the KLP group came to NOK 871bn.

KLP said it is investing more of its money in companies at an early stage of development, as it wants to contribute to the best possible development of local communities and the Norwegian business community.

In June this year, KLP announced it is collaborating with independent research organisation, SINTEF, to finance innovative and sustainable companies.

It is hoped the partnership will speed up the transition from an innovative idea to a profitable company. The aim is to finance relatively immature ideas in SINTEF's research portfolio and explore the possibilities for these to be developed into their own companies.

During the first half, KLP has joined forces with Australian asset manager, Macquaire Asset Management, to create a platform for investing in green infrastructure. KLP has therefore invested NOK 2bn in green infrastructure through Macquaire funds.

It has also joined another investment collaboration, Infrastructure Alliance Europe, together with, among others, the Swedish state pension fund AP4. The purpose is to invest in low-risk infrastructure in Europe with a strong sustainability profile.

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