Norway pensioners are well-positioned to head to their retirement as the company’s Sovereign Wealth Fund has reached $1 trillion.
The Scandinavian country is a major oil producer worldwide, which has allowed it to inject earnings from the business into the nation’s pension Fund , as well as to pay other government expenses.
The fund is run by Norges Bank , which reported that the country’s forecast never predicted a sum so large for its pension.
Slyngstad said that the figure is astounding, and far beyond’s anyone’s expectations when the nation had its first transfer of oil revenue back in May 1996.
The Norway fund also holds a considerable real estate portfolio, including stakes in buildings located in New York’s Time Square, London’s Regent Street and Paris’ Champs Elysees.
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