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A trillion dollar fund

19 September 2017

On Tuesday 19 September 2017 at 02:01 CET, the fund value hit $1,000,000,000,000, or 1 trillion dollar, for the first time.

A strengthening of the world’s major currencies against the US dollar, combined with strong equity markets, have rapidly increased the US dollar value of the fund in 2017.

"I don’t think anyone expected the fund to ever reach 1 trillion dollars when the first transfer of oil revenue was made in May 1996. Reaching 1 trillion dollars is a milestone, and the growth in the fund’s market value has been stunning", says Yngve Slyngstad, Chief Executive Officer in Norges Bank Investment Management.