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A year earlier than expected, Norway’s sovereign-wealth fund, the world’s largest, surpassed $ 1trn in assets on September 19th. It had gained over $ 100bn in the past year, thanks in large measure to the global stockmarket boom in 2017: around two-thirds of its assets are held as equities (over 1% of shares globally). It […]
SCRATCHING around for money to pay for free secondary schools, a government minister in Ghana last month floated an idea: raid the Heritage Fund. At least 9% of the country’s annual oil revenues are stashed there for future generations. The minister was rebuffed. But the row highlighted a trade-off: saving for tomorrow’s children makes it […]
