World's Biggest Wealth Fund Hits $1 Trillion Value For First Time
Norway's sovereign wealth fund, the largest in the world, reached the value of $1 trillion for the first time. This amount equals nearly $189,000 (157,000 euros) for each of the 5.3 million people living in Norway.
The fund mainly invests in stocks (accounting for 65.1 per cent of the portfolio at the end of the second quarter), but also in bonds and real estate. With stakes in nearly 9,000 companies, it owns 1.3 per cent of the world's market capitalization, and 2.3 per cent in Europe.
The fund mainly invests in stocks (accounting for 65.1 per cent of the portfolio at the end of the second quarter), but also in bonds and real estate. With stakes in nearly 9,000 companies, it owns 1.3 per cent of the world's market capitalization, and 2.3 per cent in Europe.
Important Takeaways from Above News-
- Oslo is the Capital of Norway.
- The Currency of Norway is Norwegian krone.
Source- The Livemint
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