05.04.2013 - The Falkland Islands brace for oil wealth
Is it possible to avoid squandering such a windfall, especially for a territory of fewer than 3,000 people? That’s what the Falklanders asked the Norwegians, who in 1990 started what is now the world’s largest sovereign wealth fund. With 4 trillion kroner ($715 billion) in assets, it returned 13.4 percent in 2012. The Falklands fund will never reach that scale, but if the islanders can replicate the Norwegians’ prudent management, they’ll be satisfied. The bottom line: Argentina still claims the Falklands, which are worth a lot more now that 400 million barrels of oil have been found near the islands...............................................Full Article: Source
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