Norway's Sovereign Wealth
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Norway’s Sovereign Wealth
by Wikipedia
The Government Pension Fund Global (Norwegian: Statens pensjonsfond Utland, SPU) is a fund into which the surplus wealth produced by Norwegian petroleum income is deposited. The fund changed name in January 2006 from its previous name, The Petroleum Fund of Norway. The fund is commonly referred to as The Oil Fund (Norwegian: Oljefondet). As of the valuation in June 2011, it was the largest pension fund in the world, although it is not actually a pension fund as it derives its financial backing from oil profits and not pension contributions. As of September 30, 2014 its total value is NOK 5.534 trillion ($857.1 billion), holding one percent of global equity markets. With 1.78 percent of European stocks,it is said to be the largest stock owner in Europe.
