US EditionNorway, the world’s biggest wealth fund
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Norway, the world’s biggest wealth fund
Norway’s sovereign wealth fund, the largest in the world, reached a record €20 trillion krone on Friday, December 6, or €1,700 billion, making it the biggest piggy bank in the world. The fund, established in 1990, reinvests profits from Norway’s oil and gas industry. Its total value equates to approximately 3.6 million Norwegian krone (€310,000) per Norwegian citizen. To put that in context… Source
DECRYPTION - This unique wallet has just passed the 20,000 billion krone mark. A look back at the origins of a gigantic fortune.
The value of Norway's sovereign wealth fund rose above a record 20 trillion Norwegian kroner (1.72 trillion euros) on Friday. The size of the fund has doubled in just five years, as stock markets have risen and the country's oil and gas revenues continue to flow well into the fund.
The Norwegian Central Bank invests most of its funds in shares
The assets under management of Norway's sovereign wealth fund, the world's largest equity investor, rose to a record level of 1.8 trillion dollars, or more than 1700 billion euros, on Friday. The government fund benefits, among other things, from the increased stock prices. As a result, the fund's assets have doubled in five years.
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