Norway’s massive oil fund is planning to invest more heavily in the United States and Canada while cutting back on its investments in Europe, according to a statement made Monday by the Norwegian government.
Officially called the Government Pension Fund Global, the oil-rich nation’s sovereign wealth fund is one of the world’s largest at $1.15 trillion, and is deliberately spread across markets, countries, and currencies to capture global growth while minimizing risk. The fund is invested in more than 9,000 companies worldwide, including Apple, Microsoft, and Samsung, and holds an average of 1.5 percent of all of the companies listed on global stock exchanges.
