The fund’s formal name is the Government Pension Fund Global. Norway's central bank, also known as Norges Bank, said in its half-year report the year began "optimistically," due in part to expectations of healthy growth in the real economy. © 2020 Fortune Media IP Limited. THE NORWEGIAN GOVERNMENT PENSION FUND GLOBAL: Norges Bank Investment Management (Norway GPFG) is a Sovereign Wealth Fund located in Oslo Norway, Europe, and was founded in 1990. All rights reserved. Norway plans to tighten restrictions on coal investments for its $1 trillion sovereign wealth fund while opening it up for renewable-energy infrastructure assets. Market data provided by Interactive Data. We want to hear from you. Its equity investments fell -6.8% and its real estate returned -1.6% over the first half, although its fixed-income investments rose by 5.1%. The 2019 allocation of Norway's sovereign wealth fund in equities. "I took a test yesterday afternoon after feeling a bit under the weather, but my symptoms are … The fund's total market value at the end of the six months was 10.4 trillion kroner, with 69.6% invested in equities, 27.6% in fixed income and 2.8% in unlisted real estate. Norway’s sovereign wealth fund has assets estimated at $1 trillion, nearly three times the country’s gross domestic product. Terms & Conditions. "Strong demand for online solutions for working, education, shopping and entertainment due to the coronavirus pandemic contributed to this strong return," it added. Norway has amassed a $1 trillion sovereign wealth fund from decades of petroleum production that gives it tremendous fiscal fire power. Norway's giant pension fund is now worth over $1 trillion. Unfortunately, the Government decided to go down another route, as the IPPR study explained. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. The fund's total market value at the end of the six months was 10.4 trillion kroner. Current Assets for Norway GPFG is $1,122,110,000,000 and SWFI has 83 periods of historical assets, 21 subsidiaries, 10,766 transactions, 56 Opportunities/RFPs, 191 personal contacts … Get this delivered to your inbox, and more info about our products and services. However, as the coronavirus outbreak began to spread worldwide, the bull market ended abruptly, and financial markets were hit by a series of liquidity shocks. OSLO - Everyone in Norway became a theoretical crown millionaire on Wednesday in a milestone for the world's biggest sovereign wealth fund that has ballooned thanks to high oil and gas prices. According to the Sovereign Wealth Fund Institute, Norway has the largest wealth fund in the world, when ranked by total assets, followed by the China Investment Corporation and Abu Dhabi Investment Authority. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell My Personal Information | Ad Choices  European stocks returned -11.7% for the first half of 2020 and accounted for 31.6% of the fund's equities. Powered and implemented by Interactive Data Managed Solutions. Conversely, tech stocks were the period's best performers with a positive return of 14.2%. As the name suggests, it was decided that the fund should only be invested abroad. All Rights Reserved. Rank Profile Total Assets Type Region; 1. The year started with optimism, but the outlook of the equity market quickly turned when the Corona virus started to spread globally," Deputy CEO of Norges Bank Investment Management Trond Grande said in a statement. "There were major fluctuations in the equity market in this period. 2  Norway’s Government Pension Fund Global is the largest in the world. "This was due mainly to a slide in oil prices in the first quarter as a result of both weak demand on account of the pandemic and an increase in supply from Saudi Arabia," the fund said. “Norfund has been exposed to a serious case of fraud through an advanced data breach,” the group … What the 'Predictably Irrational' author says not to do when the stock market tanks, The three types of investors in extremely volatile markets. In addition to setting monetary policy, Nicolaisen had been in charge of overseeing Norway's $1.2 trillion sovereign wealth fund, the world's largest. China Investment Corporation—China. Set up in 2007 with $200 billion in capital … The head of Norway’s $1.2 trillion sovereign-wealth fund, Nicolai Tangen, has tested positive for Covid-19, he said in a social-media post today. Oil and gas stocks were the worst performers for the first half of the year, with a return of -33.1%. A sovereign wealth fund (SWF) is a state-owned investment fund or entity which comprises of pools of money derived from a country’s reserves. Oil revenue has been very important for Norway, but one day the … "The year started with optimism, but the outlook of the equity market quickly turned when the Corona virus started to spread globally," Deputy CEO of Norges Bank Investment Management Trond Grande said in a statement. A Division of NBCUniversal. Norway sovereign wealth fund chief diagnosed with COVID-19 Back to video He added that a number of his colleagues at the fund, which has its offices in central Oslo, had been quarantined as a result of his positive COVID-19 test, taken on Wednesday, and that he was not sure how he caught the virus. Reserves are funds set aside for investment to benefit the country’s economy and its citizens. Quotes delayed at least 15 minutes. The wealth fund, a unit of the central bank, is formally known as Norges Bank Investment Management. Norwegian Central Bank Deputy Governor, Overseeing World’s Biggest Sovereign Wealth Fund, Forced To Quit After He Failed Security Clearance Over Chinese Wife by Swarajya Staff - Dec 6, 2020 12:54 PM Stimulus check update: $600 checks will hit some bank accounts Tuesday night, says the Treasury, Everything jobless Americans need to know about the $300 unemployment benefit, The fight for a $2,000 stimulus check could cost Republicans the Senate, Trump’s delayed signing of the new relief bill won’t create a loss of unemployment payments after all, CA Notice at Collection and Privacy Notice, http://www.djindexes.com/mdsidx/html/tandc/indexestandcs.html. Meanwhile, emerging markets returned -7.3% and accounted for 11.5% of the portfolio. A sovereign wealth fund (SWF), sovereign investment fund, or social wealth fund is a state-owned investment fund that invests in real and financial assets such as stocks, bonds, real estate, precious metals, or in alternative investments such as private equity fund or hedge funds.Sovereign wealth funds invest globally. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. Got a confidential news tip? About the fund The aim of the oil fund is to ensure responsible and long-term management of revenue from Norway’s oil and gas resources in the North Sea so that this wealth benefits both current and future generations. "However, the sharp stock market decline of the first quarter was limited by a massive monetary and financial policy response.". Sign up for free newsletters and get more CNBC delivered to your inbox. Norway's huge pension fund — the largest sovereign wealth fund in the world — reported negative returns for the first half of the year on Tuesday, citing "major fluctuations" in equity markets. Correction: The text of this article has been updated to reflect that the total market value of Norway's pension fund is 10.4 trillion kroner. FORTUNE may receive compensation for some links to products and services on this website. by Bloomberg 05/04/2019, 5:21 pm Stocks in the Asia-Pacific region returned -4.6% and made up 23% of the fund's equity investments. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. The Norwegian Investment Fund, the sovereign wealth fund of Norway, has lost over $10 million after falling victim to a sophisticated Business Email Compromise, or BEC scam, the group has admitted. 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