Sovereign wealth funds control around $7 trillion of assets, largely created through investing natural resource revenues. After Norway, oil rich Abu Dhabi and Saudi Arabia manage in the region of $770 billion and $670 billion respectively, according to data from Sovereign Wealth Fund Institute.
Norway's economy is currently not under any strain due to soundly managed finances according to economists. But with 40 percent of Norway's exports coming from oil and gas and oil prices down 60 percent since last summer, the fund has come under pressure.
The fund's market value fell by 115 billion Norwegian crowns ($13.7 billion) to $820 billion in the second quarter of this year according to Norges Bank Investment Management official data, with fluctuations in the Norwegian crown and a surging U.S. dollar decreasing the fund's value by 53 billion crowns.