July 14, 2010 / 1:35 PM / 9 years ago

Norway wealth fund shrank to $447 bln in June

OSLO, July 14 (Reuters) - The value of Norway’s sovereign wealth fund fell by 0.4 percent in June to a preliminary 2.790 trillion Norwegian crowns ($446.6 billion) from 2.802 trillion at the end of May, central bank data showed on Wednesday.

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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