Norway wealth fund grows to record 10 trillion crowns

The value of Norway’s sovereign wealth fund grew to a record 10 trillion Norwegian crowns on Friday 25 October, boosted by rising global stocks and the strength of the euro and dollar. The fund reached the milestone as its government regulators grapple with strategy changes, including how to handle climate risk and a proposed large-scale shift of investments into the United States. Built since 1996 to save petroleum revenues for future generations, the size of the fund has grown to almost three times that of Norway’s annual gross domestic product, far exceeding original projections. Commonly known as the oil fund and managed by a unit of the central bank, it invests close to 70% of funds in global equities and some 28% in a portfolio of fixed-income assets. Unlisted real estate holdings make up the rest.

- Reuters -



Register newsletter

Get to know about Nordic Chamber, our press releases and all news, straight to your inbox.