Photo: BloombergOslo: Norway’s sovereign wealth fund hit $1 trillion for the first time on Tuesday, driven higher by climbing stock markets and a weaker US dollar. Japan’s Government Pension Investment Fund was valued at 144.9 trillion yen ($1.3 trillion at the current exchange rate) at the end of March. There are also big cash piles at money management firms such as BlackRock Inc.’s $5.7 trillion and Vanguard Group’s $4.4 trillion. Norway expects the fund to keep growing through 2025, when it’s predicted to hit 10.5 trillion kroner (or $1.3 trillion at today’s exchange rate). With interest rates at record lows and returns hard to come by, the fund’s management is growing less optimistic.

Source: Mint September 19, 2017 12:56 UTC