Noregssjóðurinns

Noregssjóðurinns is the Norwegian Sovereign Wealth Fund, officially known as Oljefondet (the Oil Fund). It is the largest sovereign wealth fund in the world. The fund was established in 1990 as a way to manage the revenues generated from Norway's substantial oil and gas reserves. The primary goal is to safeguard and grow the nation's wealth for future generations, ensuring that Norwegians can benefit from the oil wealth long after the reserves are depleted.

The fund is managed by Norges Bank, the central bank of Norway, through its division Norges Bank Investment Management (NBIM). NBIM invests the fund's assets globally in a diversified portfolio of stocks, bonds, and real estate. The investment strategy is long-term and aims for sustainable returns. There are strict ethical guidelines and sustainability considerations that influence investment decisions, excluding companies involved in the production of certain weapons, tobacco, and those deemed to have unacceptable environmental or human rights records.

Withdrawals from Noregssjóðurinns are restricted by law and are intended to supplement the government's fiscal budget, with a guideline of spending no more than 3% of the fund's value annually. This fiscal rule aims to prevent the Norwegian economy from overheating and to ensure the fund's long-term sustainability. The fund's value fluctuates based on market performance and currency exchange rates. Its size and influence make it a significant player in global financial markets.