11.03.2013 - Norway oil wealth fund made big gains in 2012
Norway's oil fund, one of the biggest investors in the world, rose in value by 13.4% last year, its second-best performance ever. The central bank said the fund's investments in shares jumped by 18.1% in 2012, boosted by soaring equity indexes around the world. It is now worth 3.8tn krone (450bn; $670bn), up from 3.3tn krone in 2011. Norway's fund invests the money from its huge oil industry in the nation's future. The sovereign wealth fund is now 40% bigger than the value of the entire Norwegian economy. If it was invested inside the nation, this would cause distortions like massive inflation...............................................Full Article: Source
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