Since it was set up in 1990, Norway’s oil fund — the Government Pension Fund Global (GPFG) — has produced more than NOK 4 trillion (EUR 415 billion) in cumulative investment returns, and a quarter of that was made in the last year alone.
“One in four kroner of the return was generated in 2017, after a very strong year for the fund,” says Yngve Slyngstad, chief executive of the fund’s manager, Norges Bank Investment Management (NBIM), on the release of the fund’s annual report.
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