Norway’s oil fund is now worth 9.16 trillion kroner

The Bank of Norway, which manages the fund, said in a statement that “the Government Pension Fund Global returned 3.0 percent, or 256 billion kroner (25.7 billion euros, $28.5 billion) in the second quarter of 2019.”

“Uncertainty about global trade and economic growth dampened returns early on, but markets rallied towards the end of the period, driven partly by the prospect of more expansionary monetary policy in developed markets,” said the fund’s deputy CEO, Trond Grande.

The fund – which manages the country’s oil revenues in order to…
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