Norway wealth fund falls to $443 billion in October

Norway’s sovereign wealth fell by 1.9 percent to a preliminary NOK 2.497 trillion ($442.6 billion) in October from 2.546 trillion at the end of September, central bank data showed on Friday.

The fund’s value has jumped from NOK 2.273 trillion at the end of 2008 due to surging equity markets worldwide.

Commonly known as the “oil fund”, the Government Pension Fund– Global invests Norway’s oil and gas wealth in foreign stocks and bonds to save for future generations.

The central bank’s monthly balance sheet gives a fairly accurate first glimpse of the size of the fund ahead of official quarterly figures on the fund’s performance.

To read the full article by Reuters.com, click here.

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