We recognise Ferd’s investments at fair value. This means that the group reports its performance in terms of value-adjusted equity.
Ferd’s value-adjusted equity has grown from NOK 6 billion at its launch in 2001 to around NOK 41.2 billion today, which is equivalent to an annual return of 10.2%.
The table shows the fair value of our investments by business units:
Ferd’s value-adjusted equity at the close of 2020 has been provisionally calculated to be NOK 41.1 billion (NOK 35.0 billion at 31 December 2019). The return on value-adjusted equity for Ferd was 17.8% in 2020, which represents a very strong performance for Ferd in a unique year that was defined by the coronavirus pandemic.