Listen to RFI News
Expand Player
 
Listen Download Podcast
  • Paris Live PM 1300 - 1400 GMT
    News bulletin 09/19 13h00 GMT
  • Paris Live PM 1300 - 1400 GMT
    News bulletin 09/18 13h00 GMT
  • Paris Live PM 1300 - 1400 GMT
    News bulletin 09/17 13h00 GMT
  • 13h00 - 14h00 GMT
    News bulletin 04/05 13h00 GMT
  • 13h00 - 14h00 GMT
    News bulletin 04/04 13h00 GMT
  • 13h00 - 14h00 GMT
    News bulletin 04/03 13h00 GMT
To take full advantage of multimedia content, you must have the Flash plugin installed in your browser. To connect, you need to enable cookies in your browser settings. For an optimal navigation, the RFI site is compatible with the following browsers: Internet Explorer 8 and above, Firefox 10 and +, Safari 3+, Chrome 17 and + etc.
Afp

World's top sovereign fund grows despite volatile markets

By AFP
media The wealth fund is to finance the Norwegian welfare state when oil money runs out NTB SCANPIX/AFP

The managers of Norway's sovereign wealth fund, the world's biggest, said Wednesday that the fund had grown in value in the second quarter, despite volatility generated by global trade tensions.

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 finance Norway's generous welfare state when its oil and gas wells run dry -- attained "positive results in a volatile market," the statement said.

It saw its total value swell to 9.16 trillion kroner (921 billion euros, $1.02 trillion) by the end of June from 8.94 trillion kroner three months earlier.

The fund's strong second quarter was attributed primarily to its share portfolio, which accounts for 69.3 percent of its investments and which rose by 3.0 percent.

The return from bonds was 3.1 percent, while the return on real estate holdings was a more modest 0.2 percent, the statement said.

 
Sorry but the period of time connection to the operation is exceeded.