Oil Fund could double in next 10 years / Business / The Foreigner

Oil Fund could double in next 10 years. Norway’s Oil Fund (Government Pension Fund – Global) is projected to double and reach almost $900 billion by 2020, according to Svein Gjedrem, Governor of Norges Bank. In his speech at the Singapore Management University two days ago, Gjedrem explained he believes the increase will result from the growing number of investments Norway is making in the Asian market, reports Bloomberg Businessweek. The Oil Fund al is a central bank-managed fund based on investments made from its oil and gas revenues. Approximately 10 percent of the fund is invested in the Asian region.

svein, gjedrem, norges, bank, oil, fund, asia, markets, value, recovery, gas, investments, government, pension, global, singapore, management, university



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14:28:08 — Wednesday, 8th September, 2010

Business Article

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Oil Fund could double in next 10 years

Published on Friday, 2nd July, 2010 at 10:04 under the business category, by Ramona Tancau.

Norway’s Oil Fund (Government Pension Fund – Global) is projected to double and reach almost $900 billion by 2020, according to Svein Gjedrem, Governor of Norges Bank.

Svein Gjedrem, Governor Norges Bank
Svein Gjedrem, Governor Norges Bank
Photo: Norges Bank/Flickr


In his speech at the Singapore Management University two days ago, Gjedrem explained he believes the increase will result from the growing number of investments Norway is making in the Asian market, reports Bloomberg Businessweek.

The Oil Fund al is a central bank-managed fund based on investments made from its oil and gas revenues. Approximately 10 percent of the fund is invested in the Asian region.

Moreover, with Asian companies growing and expanding, it looks as though the market has great potential to tempt further investments.

“The distribution between different regions may be considered for a change in the future given the fact that Asia’s growth is stronger versus Europe,” Gjedrem said.  

He underlined that the genuine prospect of a rapid and significant decrease of gas and oil output in the next two  decades  means Norway needs to manage and invest its funds accordingly, to cope with the new trend.


Published on Friday, 2nd July, 2010 at 10:04 under the business category, by Ramona Tancau.

This post has the following tags: svein, gjedrem, norges, bank, oil, fund, asia, markets, value, recovery, gas, investments, government, pension, global, singapore, management, university.

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