This pension fund is estimated at $ 1,000,000,000,000 !!!

Sovereign fund managers announced on Tuesday that currency shifts helped push it to more than $ 1 trillion for the first time.

I do not think anyone expected this fund to reach a trillion dollars when the first oil revenues were transferred to it in May 1996, "the fund's president, Wangfeng Slingstad, said in a statement.

For comparison: a trillion dollars is almost the size of Mexico's economy.

Norway is one of the major producers of oil and has diverted its energy revenues to the Fund to finance pensions and other government expenditures.

The fund is among the largest equity investors in the world with $ 667 billion of equity in more than 9,000 companies around the world. It owns an average of 1.3 per cent of all listed companies around the world.

The largest acquisition of shares in Apple, Nestle, Royal Dutch Shell, Novartis, Microsoft and Alfabet owned by Google.

The fund also has a large real estate portfolio, including stakes in buildings in the world's most sought-after addresses such as Times Square in New York, Regent Street in London and the Champs Elysées in Paris.

The returns were impressive.

The Fund has achieved an annual return of 5.9 per cent since January 1998, down to 4 per cent when management and inflation costs are calculated. In 2016, the Fund recorded a return of 6.9 per cent, amounting to 447 billion Norwegian kroner (or $ 57 billion).

This year was more prosperous. The fund achieved 499 billion crowns (or $ 63 billion) in the first two quarters of 2017.

The fund is worth more than $ 190,000 per citizen in Norway, with a population of 5.2

source
arabic.cnn