News
Norwegian Wealth Fund's Growth Slows, but Emerging Markets Help
March 13, 2015
Growth slowed last year for Norway's sovereign wealth fund, the largest in the world. But a new direction in its holdings toward emerging markets may make for a rosier 2015. The Government Pension Fund Global returned 7.6%, or $67B, in 2014, the most sluggish rate since 2011. Real estate investments continued to be a strong suit for the $860B fund, climbing 10.4% compared to 7.9% and 6.9% improvements in stocks and bonds. Ghana, Mauritius and Nigeria joined the ranks of Norway's holdings as the fund looks to emerging markets as a source of future growth. Meanwhile, European investments constituted 39.3% of the fund, down from 45.2% last year. [Bloomberg]
