(Finansavisen 🙂 In 2018 approximately 40 percent of Argentum's portfolio of about NOK 7.6 billion was realized, resulting in a record dividend of NOK 1.5 billion. This places Argentum among the companies that contribute most to the state.
– Only Equinor, Statkraft, Telenor and DNB are expected to pay more state dividends than last year, says CEO Joachim Høegh-Krohn in Argentum.
Since the beginning of the Argentum government buy-back fund in 2001, the Norwegian state has injected 4.65 billion NOK through the state budget. In the same period, the state received a total of 5.77 billion dividends, 1.12 billion more than was deposited.
For comparison, Norsk Hydro and Yara paid NOK 1.52 billion for the past year, while early-stage government investment and investment, Investor, delivered dividends as before: 0.
Breaks the stock market
Overall, return has risen to 22.2 percent last year, resulting from a $ 1.53 billion investment portfolio. Although the annual result fell by NOK 100 million and NOK 1.4 billion, it is still far better than the Oslo Stock Exchange, down by 1.8 percent, while the wider Nordic Index OMXN fell by more than 10 percent in the same period.
– We are more pleased with the 2018 result compared to the previous year due to market conditions. We are not far from record results in 2017, at the same time as dividend increases, says Høegh-Krohn.
In the Argentum era, the average annual yield is 15.4 percent, which is 5.3 percent better than the Oslo Stock Exchange.
Portfolio: 7.5 billion.
The manager is also one of the main players in the secondary market with the purchase and sale of shares in the PE fund. Argentum operates in Norway, Northern Europe and internationally, and has achieved a return on its 24.5 percent portfolio of used cars in 2018.
Although Argentum invests only in other redemption facilities and does not invest direct in the company itself, it has been a terrible year for many of the funds they have bought.
– One of the most important achievements was a successful stock market quotation and sales of Spotify, owned by Northzone and Creandum. With the same managers we also realized PayPal, which is sold to Payett, says Høegh-Krohn.
Even after the value of approximately NOK 3 billion, the portfolio rose to SEK 7.5 billion at the end of the year, which is only 100 million less than the year before. And after a dividend of 1.5 billion Norwegian krona.
Half of Argentum's portfolio is located in Norwegian Norwegian fund managers based in Norway. Høegh-Krohn reveals that the largest single investment in energy-focused HitecVision, which earlier this year received investment firm Wilhelmsen, Watrium, as the main shareholder in the management company.
– Portfolio share in the oil and power sector will probably fall over time, but we are convinced that the Norwegian police will bring good profitability in the coming years. I also believe that today's energy companies will be part of the solution for switching to renewable energy, says CEO.
Høegh-Krohn seriously understands the issue of the environment, but points out that we are an oil nation with many expertise in the area and that this will be a great advantage for us as a nation in the coming transition.
"We follow the same guidelines as the Pet Fund, which is the leader in how to deal with ESG issues, he says, and continues:
– If foreign players sell out of the Norwegian pole, they will open to smaller Norwegian players and opportunities for consolidation. It fits well with PE and is actively owned.