Norway SWF Reaches 10,000 Billion Kroner
Posted on 10/25/2019
Norway Government Pension Fund Global (GPFG) reached 10,000 billion NOK. According to Norges Bank Investment Management (NBIM), the sovereign wealth fund has received inflow of just above 3,300 billion NOK since it started receiving inflows some 23 years ago. The rest of the market value is fluctuations in the Norwegian krone.
“When the fund was set up, nobody thought it would pass 10,000 billion kroner. We were lucky to discover oil. The return on the investments in global financial markets has been so high that it can be compared to having discovered oil again,” says Yngve Slyngstad, Chief Executive Officer in Norges Bank Investment Management, in a press release.
NBIM was formed as a separate organization on January 1, 1998.
