KLP is Norway's largest pension company

Weak financial markets persisted for the whole of last year, but solid buffers and higher interest rates give room to transfer NOK 3.2 billion to customers premium funds.

KLP maintains good financial strength in the face of a demanding market so far this year.

Kommunal Landspensjonskasse (KLP) will from today not receive rating service from Standard & Poor’s.

KLP and the KLP Funds have decided to exclude the two US companies Core Civic and GEO Group for violating human rights and labour rights at their refugee reception centres

KLP achieved an investment result (the return in excess of that guaranteed by the company to its customers) of NOK -20.3 (7.2) billion in the second quarter. The return on the common portfolio was -2.1 per cent year to date.

KLP’s first-quarter results were affected by weaker equity markets and higher interest rates. Good buffers built up in good times provide stability our fund management, and the rise in interest rates we are now seeing will result in higher revenues going forward. The first quarter saw large inflows into KLP’s funds, making the company the largest in Norway in sales to the retail market.  

• Value-adjusted return: 1.1 per cent for the quarter and 5.6 per cent so far this year
• Book returns so far this year are 3.5 per cent
• Good profit contribution from the subsidiaries

• Value-adjusted return: 2.9 per cent for the quarter and 4.4 per cent for the first half-year
• Good profit contribution from the subsidiaries

KLP has decided to exclude 16 companies with links to Israeli settlements on the West Bank. The settlements are considered to be in violation of international law. KLP held investments totalling NOK 275 million in the companies at the time of the decision.