Norway's Sovereign Wealth Fund Hits $1 Trillion For First Time Ever

The_Real_Fly's picture

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For the first time ever, Norway's sovereign wealth fund, which was launched 20 years ago to invest their oil money, has surpassed $1 trillion.

"I don't think anyone expected the fund to ever reach 1 trillion dollars when the first transfer of oil revenue was made in May 1996. Reaching 1 trillion dollars is a milestone, and the growth in the fund's market value has been stunning", said Yngve Slyngstad, chief executive officer at Norges Bank Investment Management.
The fund's administrators said that on Tuesday 19 September 2017 at 2:01 a.m. local time, the fund value hit $1,000,000,000,000, or $1 trillion, for the first time.
The bank said a strengthening of the world's major currencies against the U.S. dollar combined with strong equity markets during 2017 had rapidly increased the U.S. dollar value of the pooled capital.

The fund is broadly diversified and is very open about how the money is invested. If you're interested in the details, check here.
The fund is ~65% long equities, upwards of 30% fixed income and a little real estate.

Norway's GDP for 2016 was $370 billion, or $70k per capita.

Here's the top countries, sorted by highest GDP per capita.

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oncemore's picture

Do they have a democracy in Norway, or should they get bombed?

east of eden's picture

They got there did they. WIthout a doubt, the Norweigans have done the  best job of managing resource revenue of any country on earth. When you compare them to say Canada, where oil has been pumped for over 100 years, Alberta is broke and in debt to the tune of 65 Billion dollars, while Norway funds it's entire budgets from the earnings.

But that will probably not stop the assholes from making stupid comments.


Juggernaut x2's picture

Norway was left holding big bags of Goldman's MBS shit in 2008 and they'll get the shaft again when it all goes to hell.

anarchitect's picture

Yes.  Stocks have had a good run.  They should put 20%-25% into PMs at this point.

lennysrv's picture

More money to give to the fucking refugees/scam artists/serial rapists.

Juggernaut x2's picture

Speaking of black rapists and white women, Auburn University needs to improve background checks on their campus bus drivers

Buck Johnson's picture

Damn, that is a good wealth fund.  They better keep watch on that, those bankers will want to have access that.


The central planners's picture

Wealth in hyperinflated stocks thats not wealth.

A. Boaty's picture

Good thing they keep that $trillion under a mattress.

Raymond K Hessel's picture

what's the geometric mean on GDP? Probably a hell of lot lower....

spieslikeus's picture

Sounds like it's time to invade. Make up some shit about how Norwegians hate black people and let the ball roll.

peddling-fiction's picture

Aah, yes, mammon makes them sleep well at night.

The fall will be spectacular, and full of delightful anguish.

How much does 1T Zimbabwe bucks buy you these days?


Stackers's picture

Worth a $1 trillion -- until global stock and bond markets blow up again and it's back down to $600 billion or less

stacking12321's picture

surprising how the number 5 spot on the gdp chart are the argentinian islas malvinas at $96k gdp per person

who knew that buggering sheep could pay so well?

peddling-fiction's picture

Looks like they added full-time to their GDP.