Performance and Transparency of the Norwegian Sovereign Wealth Fund

The Norwegian sovereign wealth fund (SWF) is widely acknowledged to be one of the most transparent funds of its type. It has performed like a balanced mutual fund whose investments have been no more disruptive to financial markets than those of other institutional investors. There is a question as to whether the Fund has been a prudent agent for Norwegian citizens. If its purpose is to protect Norwegian national assets from the volatility of energy markets, can it be judged successful if its investments expose collective assets to equal or greater risk in world financial markets ?