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Norway's wealth fund hits record $1 trillion

OSLO, Sept 12 (Reuters) - The value of Norway's sovereign wealth fund, the world's largest, hit $1 trillion for the first time on Tuesday as booming global stock markets and a rising euro lifted its assets.

Established in 1998 to save oil and gas revenues for future generations, the wealth fund is now worth about 2.5 times the country's annual gross domestic product, against original projections it would peak at 1.3 times of GDP in the 2020s.

At 1034 GMT, a live update on the fund's website showed its value at 7.851 trillion Norwegian crowns ($1.00 trillion).

($1 = 7.8473 Norwegian crowns) (Reporting by Terje Solsvik, editing by Gwladys Fouche)