Norway government global falls to NOK2.1trn
NORWAY - The value of the Government Pension Fund - Global fell in value in January by over NOK 1.5bn to NOK 2.1trn (€235.9bn).
Monthly figures from Norges Bank showed the pension fund, which invests the money earned from Norwegian oil reserves in overseas assets, has reported the first fall in investment value since October 2008 as it dropped from NOK2.27trn in December to NOK2.1trn a month later.
The pension fund last saw a decline in October 2008 when it dropped from NOK2.12trn to NOK2.09trn over the month, but it continued a steady increase after this to NOK2.15trn in November and NOK2.27trn by the end of the year.
The figures are published ahead of the pension fund's annual report scheduled for release on 11 March 2009, and follows recent figures from the pension fund's domestic counterpart - the Government Pension Fund -Norway - which reported a loss of €3bn as it fell 25.1%. (See earlier IPE article: Government Pension Fund - Norway drops €3bn)
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