Norway’s private investment fund manager, the largest sovereign wealth fund in the world, with 890 billion worth of assets, will broaden the investment universe to include frontier markets and add new currencies in the portfolio to achieve larger returns, according to Bloomberg. It is good news for Romania and the Bucharest Stock Exchange, which are now included in the frontier markets index.

The Fund will expand the “exposure to different sources of efficiency and exploit investment opportunities that vary in time”, write officials of Norges Bank Investment Management (NBIM), which manages the fund, in a strategy report.

“New border markets will be added to our capital investments, and our investment spectrum in fixed income instruments will be expanded to include additional currencies”, said NBIM in the report, which presents its strategy until 2016, quoted by zf.ro.

At the end of 2013, the sovereign pension fund of Norway had investments of 51 million euros on the Bucharest Stock Exchange, 25 times higher than in 2012, when the fund increased its exposure on share of Petrom, BRD, Banca Transilvania Transelectrica and Transgaz, and bought shares in Romgaz and Nuclearelectrica, acording to the annual report.

At the end of 2012, total investment in local stock market was only 2.1 million euros, the main investments being BRD, Banca Transilvania, Transgaz, Transelectrica, OMV Petrom and BSE shares. During the past year, the fund bought shares in Romgaz and Nuclearelectrica, the two companies being listed on the stock market in the fall of 2013.

In 2013, the investment fund has obtained a 16% yield in Norwegian kroner, mainly due to investments in shares.