Norway SWF swells in Q2, owns 1 pct of global stocks

Source: Reuters

OSLO, Aug 14 (Reuters) - Norway's sovereign wealth fund had a return of 12.7 percent on its investment in the second quarter and owns 1 percent of all global stocks, taking advantage of a sharp financial market rally, the central bank said on Friday.

The fund grew by 14.9 percent in the second quarter from the end of March to 2.385 trillion Norwegian crowns ($396.6 billion), in line with earlier reported preliminary figures.

The fund, which in 2008 had its worst performance in its 10-year investment history, outperformed its benchmark by 2.1 percentage points, said Norges Bank, which manages the fund.

"Economic developments showed clear signs of stabilising in the second quarter and the uncertainty over the financial sector decreased," the fund's executive director Yngve Slyngstad said.

Read more: http://www.reuters.com/article/earningsSeason/idUSOSN00233820090814

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Oil and gas revenue are saved for future generations? How socialist! Who else does that?

US purchased Alaska from Russia. Then Alaska petitioned successfully for statehood.

Now, if she wants to put a state tax on drilling activity within her state and use that money to mail out checks to Alaskan residents, that's fine, as long as the federal government allows it. I say we make Alaskan oil field a national park, but that's only me

These secession-minded state as nation folks have some bizarre ideas, don't they?

:sarcasm:

Vikings aside, of course.