The Nkr386.4bn (€47.3bn) Petroleumfund in Norway returned 2.5% in 2000 despite poor performing equity markets.

Although its 40% equity portfolio returned -5.8%, its 60% bond portfolio saved the day with 8.4%. Since launching in 1998 the fund has returned 6.5% annually. Equities have so far outperformed at 11.4% and bonds at 4.1% annually.