Fund tops 6,000 billion kroner in market value
28 November 2014
The 6,000 milestone has been reached sooner than estimated in the national budget, mainly due to the krone depreciation the last weeks. This has, however, no effect on the fund’s international purchasing power. Variations above and below 6,000 billion kroner must be expected going forward.
The fund’s market value has grown substantially the last year, from 5,038 billion kroner at end of 2013 to more than 6,000 billion kroner today. The market value equals about 870 billion dollars. The fund reached 5,000 billion kroner in December last year. 4,000 billion kroner was reached in February last year, 3,000 billion kroner in October 2010 and 2,000 billion kroner in October 2007.
The market value of the fund is determined by inflows of capital, returns and fluctuations in the krone exchange rate. The fund received 3,426 billion kroner in capital inflows and returned 2,084 billion kroner between May 1996 and 30 September 2014. Changes in the krone exchange rate increased the market value by 50 billion kroner.