The overview of all companies the Norwegian Government Pension Fund has invested into is presented in the 2009 annual report of the fund, published on the website of the Norway’s central bank. The fund was established in 1996 to invest surplus oil revenue abroad in order to avoid overheating Norway’s domestic economy.
Based on the 2009 annual report, the Norwegian newspaper Aftenposten has compiled an overview of all the 10,288 companies globally that the fund has invested into and divided the investments based on countries. Although, the fund’s investment in Russia is relatively small compared to investments in other countries, it was worth 22,14 billion kroner (Euro 2,75 billion)by the end of 2009.
The fund’s total market value by the end of 2009 was 2640 billion kroner (Euro 330 billion).
Gazprom tops the list of Russian companies where the value of the Norwegian Government Pension Fund is highest. The fund holds 0,65 percent of the stocks in Gazprom with a marked value of 5,47 billion kroner (Euro 680 million), as reported by BarentsObserver last Friday.
The top-ten Russian companies in the portfolio of the Norwegian fund are according to the overview presented by Aftenposten:
| Gazprom oao |
5466 million kroner |
| Lukoil oao |
2951 million kroner |
| Sberbank |
1996 million kroner |
| Rosneft oil Co |
1874 million kroner |
| Surgutneftegaz |
1611 million kroner |
| Federal Grid Co unified energy system JsC |
721 million kroner |
| Novolipetsk steel oJsC |
632 million kroner |
| Tatneft |
445 million kroner |
| Mobile telesystems oJsC |
420 million kroner |
| Severstal |
396 million kroner |
As BarentsObserver previously reported, the Fund last year decided to get rid of its shares in mining and metallurgy company Norilsk Nickel following the company’s bad ecological record.
