2 days ago
How Sparsely Populated Norway Amassed $1.8 Trillion
Of all the world's sovereign wealth funds, Norway's is one of the most unusual. These giant, state-linked investment vehicles tend to pick and choose what assets they hold to manage risk, maximize returns and further national strategic interests. Not so with Norges Bank Investment Management, which largely tracks global indexes in order to generate an income from the country's oil and gas revenues.
Launched in the early 1990s to invest mostly in bonds, the fund has grown to become the largest of its kind by acquiring small equity stakes in thousands of companies across the world. The fund's $1.8 trillion of assets generate far more income for the Nordic country's 5.5 million population than its oil and gas industry.
