Norwegian oil fund to be divided into several parts

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nnfThe Norwegian National Welfare Fund could be divided soon into several parts. This proposal has been forwarded by Erna Solberg, leader of the opposition Conservative party.
The National Welfare Fund or the State Pension Fund of Norway is the biggest in the world. By July 2013 the Fund’s assets reached $740 billion. The Fund is managed by the Norges Bank Investment Management, NBIM.
The Fund was established in 1990. The government started transferring money to the Fund in 1996. In 2006 the Oil Fund was renamed into the State Pension Fund. In 1998 the shares for the first time entered the portfolio of the Fund. The shares of the developing markets were added in 2000. In 2011 the Fund started investing into commercial immovable property.
The Fund is managed by only one company. The opposition companies would like to change this situation, claiming that if the Pension Fund is divided into several parts, then competition between several managing companies could increase a total volume of funds.
According to the latest polls, the Norwegian Conservative party led by Erna Solberg is ahead of the Norwegian Working party led by Premier Yens Stoltenberg.
The parliamentary elections will take place in Norway in early September 2013, reported http://www.norge.ru.

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