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Assets of Norwegian Sovereign Oil Fund reached $728 billion

NPF In quarter 1, 2013 Norwegian Sovereign Fund has received a profit of $37 billion from oil export. The information released at the world financial market today reads that its assets have increased up to $728 billion.
“During this period we have made the biggest sum at the US and Japanese stock markets,” said Ingve Slingstad, Manager of the Norwegian Sovereign Fund.
Established first as the State Oil Fund, it was recently renamed into the Norwegian State Global Pension Fund. The Fund has two sources of direct incomes: proceeds from Norwegian oil export’s super profit and the investment incomes. In quarter 1, 2013 the investment incomes have brought the Fund the main profit. This has been caused by a rapid rise of the world stock market in early 2013.
The investment policy of the Fund is determined by the government and is implemented by the Norwegian Central Bank. The Fund holds 60% of its capital in the shares of various companies and banks, 35% falls to the bonds and 5% to immovable property.