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Norway wealth fund rises to $437 bln in May

OSLO, June 14 (Reuters) - Norway’s sovereign wealth fund rose by 1.60 percent in May to a preliminary 2.802 trillion Norwegian crowns ($436.6 billion) from 2.758 trillion at the end of April, central bank data showed on Monday.

The fund’s value has risen from 2.637 trillion crowns at the end of 2009.

Commonly known as the “oil fund”, the Government Pension Fund -- Global invests Norway’s oil and gas wealth in foreign stocks and bonds to save for future generations.

The central bank’s monthly balance sheet gives a fairly accurate first glimpse of the size of the fund ahead of official quarterly figures on the fund’s performance.

Reporting by Oslo newsroom

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