Press Release - Annual Meeting of the Trustees of the Nobel
The 2002 Financial Management of the
At their meeting today, the Trustees of the
Nobel Foundation approved the 2002 financial statements of the
- On December 31, 2002, the market value
of the Foundation's invested capital amounted to SEK 2,791 m
(3,698). Total return on assets - growth in Foundation assets
after adding back the year's disbursements - was -21.4 percent
- Net assets, that is, the market value of
equity calculated as invested capital at market value adjusted
for other balance sheet items, changed during the year by -24.4
- The value of the Foundation's stock
portfolio, which amounted to SEK 1,596 m at year-end, changed
by -33.5 percent during 2002. The annual average for the last
five years' return on assets is 3.2 percent, which exceeds a
weighted comparative index by 3.4 percentage points per annum.
During the same period, the MSCI World Index showed an average
annual change of -0.3 percent.
- The return on the Foundation's bond
portfolio during 2002 was 8.7 percent, exceeding a comparative
index by 0.5 percentage points. The market value of this
portfolio totaled SEK 929 m at year-end.
- Each of the 2003 Nobel Prizes (Physics, Chemistry,
Physiology or Medicine, Literature and Peace) will amount to
SEK 10.0 m (10.0). The total amount of all five Nobel Prizes is
SEK 50.0 m. In addition, the Bank of Sweden (Sveriges Riksbank)
Prize in Economic Sciences in Memory of Alfred Nobel will
amount to SEK 10.0 m.
Changes in the Board of Directors of the
The Trustees of the Nobel Foundation
elected the following new regular members of the Nobel
Foundation's Board of Directors:
Professor Ole D. Mjøs, as the
representative of the Norwegian Nobel Committee, effective from
March 17, 2003. He succeeds Mr. Gunnar Berge both on the
Foundation's Board and as Chairman of the Norwegian Nobel
Committee. Ole D. Mjøs is professor of medical physiology at
the University of Tromsø.
Professor Gunnar Öquist,
effective from July 1, 2003. He succeeds Professor Erling Norrby,
Secretary General of the Royal Swedish Academy of Sciences.
Gunnar Öquist is professor of plant physiology at Umeå
Stockholm, April 25, 2003
THE NOBEL FOUNDATION / Michael Sohlman, Executive Director
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