EnergyWatch

Norway's state oil fund hungry for more stocks

As management sees it, Norway's state oil fund should increasingly invest in stocks. It is unclear whether there is political backing.

Photo: Rune Kongsro

The staggering NOK 7300 billion (EUR 814 billion) figure in The Government Pension Fund Global (Den Norske Oljefund), Norway's state oil fund, is 60 percent made up of stocks. The rest is in bonds and real estate.

However this could soon change. At least, if it is up to Norges Bank, which is responsible for the fund's management. The bank delivered a recommendation to the Norwegian government Thursday proposing that the oil fund be given the green light to invest up to 75 percent in stocks. If this change is approved, around NOK 995 billion will be converted to shares, reports Norwegian web media E24.no.

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