This chapter deals with another aspect of wealth management: the utility of petroleum investment funds (or sovereign wealth funds) to protect the domestic economy from Dutch Disease and the volatility of government revenues derived from oil. Hence, it functions as a companion to Chapter 6. After a general introduction to the literature on petroleum funds, the second part of the chapter examines the size and nature of Norway’s Government Pension Fund, Global (GPFG); and how the revenues from this fund are carefully reintroduced into the Norwegian economy via the government’s “budgetary rule” (handlingsregel). It is the latter, the “budgetary rule”, that is perhaps the most unique characteristic of the Norwegian wealth management arsenal.
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