Norway wealth fund grew 3.8 percent in November

Norway’s sovereign wealth rose by 3.8 percent to a preliminary 2.591 trillion Norwegian crowns ($448.6 billion) in November from 2.497 trillion at the end of October, central bank data showed on Dec. 14

The fund’s value has jumped from 2.273 trillion crowns 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 rest of the article by Reuters, click here.

The Norwegian American

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