The biggest Sovereign Wealth Fund (SWF) in the world is owned by Norway and boast of a financial war chest of about $890billion. To put this into proper perspective, their wealth fund is bigger than Nigeria’s GDP and more than 800 times bigger than Nigeria’s Wealth Fund which has just under $2billion in investments.
Data has it that the SWF has about $3.8billion invested in African stocks. Nigerian Stock Exchange for example is valued at about $60billion . Being one of the most sought after fund in the world , it is important to track their investments in Nigeria and perhaps Africa. We did a tracking and here is what we discovered
Investment in Equities
The Norwegian SWF invests in the following Nigerian equities – Data is at end of 2014.
| Holdings | Value ($) | %ages | |
| Access Bank | 0.25% | 2,094,739 | 3.2% |
| GTB | 0.35% | 13,929,131 | 21.0% |
| Intl. Breweries | 0.87% | 3,607,887 | 5.4% |
| Lafarge Africa | 0.21% | 4,117,928 | 6.2% |
| Nestle | 0.10% | 4,579,247 | 6.9% |
| Nigeria Breweries | 0.17% | 11,527,775 | 17.4% |
| Seplat | 0.23% | 2,896,164 | 4.4% |
| Stanbic IBTC | 0.20% | 2,930,635 | 4.4% |
| UACN Plc | 1.38% | 4,989,210 | 7.5% |
| Zenith | 0.49% | 15,601,449 | 23.5% |
| Total | 0.17% | 66,274,165 | 100.0% |
Bloomberg also reports that the fund is looking to increase its investments in Africa and if it does Nigeria will be one of its major destination spot. This fund should be targeting a minimum of $500m in Nigerian equities.
