Norway (Oil) Sovereign Wealth Fund
A Norway (Oil) Sovereign Wealth Fund is a sovereign wealth fund of Norway founded in 1990.
References
2020
- (Wikipedia, 2020) ⇒ https://en.wikipedia.org/wiki/Government_Pension_Fund_of_Norway#Government_Pension_Fund_Global Retrieved:2020-5-18.
- The Government Pension Fund Global (SPU) is a fund into which the surplus wealth produced by Norwegian petroleum income is deposited. Its name changed in January 2006 from the Petroleum Fund of Norway. The fund is commonly referred to as the Oil Fund (Norwegian: Oljefondet).
The purpose of the fund is to invest parts of the large surplus generated by the Norwegian petroleum sector, mainly from taxes of companies but also payment for licenses to explore for oil as well as the State's Direct Financial Interest and dividends from the partly state-owned Equinor. Current revenue from the petroleum sector is estimated to be at its peak period and to decline in the future decades. The Petroleum Fund was established in 1990 after a decision by the country's legislature to counter the effects of the forthcoming decline in income and to smooth out the disruptive effects of highly fluctuating oil prices.
As its name suggests, the Government Pension Fund Global is invested in international financial markets, so the risk is independent from the Norwegian economy. Over 9,158 companies in 73 countries are invested in the fund (2019). On October 25, 2019, the fund's value reached 10,000 billion Kroner, according to its official website. [1]
- The Government Pension Fund Global (SPU) is a fund into which the surplus wealth produced by Norwegian petroleum income is deposited. Its name changed in January 2006 from the Petroleum Fund of Norway. The fund is commonly referred to as the Oil Fund (Norwegian: Oljefondet).