In record-breaking year, Norway’s sovereign wealth fund passes $1-trillion mark
The Oslo-based investor says the 2017 return was equivalent to $131bn, or 13.7%
Norway’s sovereign wealth fund delivered its biggest return on record in 2017, capping a year in which it passed the $1-trillion mark and shocked markets by proposing to drop oil and gas stocks. Not since the fund was created at the end of the last century has it made more money in a single year, measured in kroner, the Oslo-based investor said on Tuesday. The 2017 return was equivalent to $131bn, or 13.7%. The fund’s growing exposure to the stock market means that returns may be more volatile in the future, CEO Yngve Slyngstad said at a media conference in the Norwegian capital. Owning on average 1.4% of the world’s listed stocks, the fund largely follows indexes but has leeway for some active management. It’s in the process of raising the share of stocks in its portfolio to 70% to improve returns. It’s also increasing its influence in areas such as executive pay, corporate corruption and sustainable investing. "The fund’s cumulative return since inception has passed 4,000-billion ...
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