Force

摘要

For the past12 years, norway's giant pension fund has enjoyed a charmed existence. It has reaped a rapidly growing bounty from the country's oil export earnings and put that money to work quietly but efficiently, mainly in indexed strategies that prospered from buoyant global equity markets. In short order the Government Pension Fund - Global, as it's called, has swelled to a massive 2 trillion kroner ($370 billion), making it the world's second-largest sovereign wealth fund, behind the Abu Dhabi Investment Authority. And at a time when the growing size and influence of sovereign funds are raising political concerns from Berlin to Washington, Norway has for the most part avoided controversy. Indeed, the fund's low-key investing strategy and Scandinavian-style transparency have made it a model that most Western governments would like to see adopted around the world.