Norwegian Petroleum Fund pivotal to its economic future | GulfNews.com:
"Last week I discussed the Norwegian Petroleum Fund — or the “Government Pension Fund — Global” as it is known formally — which saw its size grow steadily from the 1990s to its present value of about $740 billion (Dh2.7 trillion).
The performance of the Fund between its first equity investment in 1998 and 2007 yielded average annual returns of 4.3 per cent according to Norges Bank Investment Management (NBIM), a unit established by the Central Bank to manage the fund with a staff of more than 200 people. It as set up on a directive from the Ministry of Finance and approved by Storting, the Norwegian parliament.
Some years have seen losses — 3.37 per cent in 2008 and 2.5 per cent in 2011, caused by the global financial crisis. However, other years have seen stellar results."
'via Blog this'
No comments:
Post a Comment