Friday's number: 1,000...

October 6, 2017

...billion dollars is the milestone surpassed by the Norwegian pension fund in mid-September 2017. The fund holds 1.3 per cent of global equities, making it the world's largest sovereign wealth fund. The purpose of the fund is to prepare for the time when oil reserves off the Norwegian coast begin to run out and secure the pensions of the populace.

One trillion dollars equates to two-and-a-half times the size of the Norwegian economy. At the end of June 2017, 65.1% of the fund was invested in shares, 32.4% in bonds and 2.5% in property. The fund is bound by guidelines on ethical investments. One of the negative criteria defined prevents the fund from investing in manufacturers of weapons of mass destruction or any company committing human rights violations. The latest increase in the value of the fund has been driven by climbing stock markets.