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The value of the Norwegian Government Pension Fund (SPU) reached a new record, exceeding NOK 14,5 trillion on Tuesday, April 11.04.2023, 500. This is an increase of NOK 7 billion in the last two months. This equates to nearly NOK 1000 billion a day since early February. The devaluation of the Norwegian krone and the strong stock market are the main factors contributing to the increase in the value of the fund. Since the beginning of the year, the fund has increased its value by almost NOK XNUMX billion.
Impact on the value of the fund
The value of the fund depends not only on the exchange rate of the koruna and market conditions, but also on the amount of oil money added. In 2022, a record amount of money from oil sales was added to the fund. The amount is NOK 1085 billion, which contributed to setting another record.
Investments and development
However, it is worth noting that the Oil Fund has long sought to reduce its dependence on oil. To this end, it increases investment shares in other industries. In 2021, the Fund announced plans to sell its oil and gas portfolio. The goal is to focus on more sustainable investments.
In recent years, the Oil Fund has invested in sectors such as technology, renewable energy and real estate. In 2021, the fund invested over NOK 18 billion in renewable energy projects, representing 2,5% of the total portfolio.
. Oil support
The Oil Fund is considered one of the largest commodity funds in the world and has a major impact on the Norwegian economy. Oil revenues are typically used to finance various projects and programs, including education, health and environmental protection.
summarizing
The increase in the value of the Oil Fund to over NOK 14,5 trillion is an impressive achievement that is due to various factors such as the weak krona Norwegian and investments in sustainable industries. The Oil Fund is an important element of the Norwegian economy and its investments influence various aspects of life in Norway.
