According to the 2008 report from the Fund, investments have been made in a total of 46 Russian companies. That is up from only 13 companies in 2007, newspaper Vedomosti reports. At the same time, the investment volume increased 150 percent to 833 million USD.
Lukoil and Gazprom are by far the main Russian investments objects of the fund with respectively 3.37 billion NOK and 1.57 billion NOK of investments. That amounted to respectively 0,34 percent and 0,54 percent of the companies’ stock capital.
However the Pension Fund also invested in other Russian companies, among them Norilsk Nickel, Rosneft, Surgutneftegaz, Sberbank and telecom major MTS.
The market value of the Government Pension Fund – Global was NOK 2 275 billion at the end of 2008. That is down significantly from 2007. As BarentsObserver reported, 2008 was the worst year in the history of the Pension Fund with a 23 percent loss in investments.
The Norwegian Pension Fund Global was established in 1990. It was then named the Norwegian Petroleum Fund.
See the full list of companies invested in by the Pension Fund here
