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Continued growth for Norwegian Pension Fund in India

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New Delhi : Norwegian Government Pension Fund Global (GPFG) investments in India have grown substantially in the last year. The total amount invested in 2015 was 9.2 billion dollars, an increase of almost 10 percent.

The investment in Indian stocks added up to 5.4 billion dollars and was spread across 248 companies.

Similarly, the investments in bonds increased as well and totalled 3.5 billion dollars in 2015. In 2014, the total amount invested in Indian stocks and bonds was 8.4 billion dollars, last year it amplified to 9.2 billion dollars.

The Government Pension Fund Global invests in companies in a wide range of sectors. All investments are vetted by an ethics committee based on guidelines laid out by the Norwegian Parliament. One of the new investments in 2015 was in Coffee Day enterprises, the popular Cafe Coffee Day branches that can be found all over India. The largest investment was in Infosys which increased by 30 million from 2014. Other companies included Axis Bank, Maruti Suzuki and Indian governmental bonds.

GPFG is one of the largest sovereign wealth funds globally, with a market value of 7,100 billion Norwegian kroner at the beginning of 2016 – or some 880 billion US dollars. Its purpose is to safeguard the future of Norway and its inhabitants, and to make sure that the revenues gained from the oil and gas sector will benefit future generations, also.

The GPFG was established in 1990 to manage the vast revenues from the North Sea. Since its USD 7 billion worth in 1996, the fund has grown to become the holder of 1,3 % of all shares globally, and 2,4 % of the shares on the European market. The Government Pension Fund Global aims to make the most of its two distinguishing characteristics, its long-term approach and its considerable size, to generate strong returns and safeguard the interests of future generations. (ANI)

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