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What's so funny about USD 1 trillion? The Norwegians who manage it

It’s like "The Office", but with a USD 1 trillion problem. That’s how director Harald Zwart describes his new sitcom that takes place at Norway’s wealth fund. "The Oil Fund" revels in the clash between the opulence of high finance and the Nordic country’s culture of moderation and strict bureaucracy, but also brings in the debate of how to responsibly invest wealth amassed from decades of oil and gas production.

According to director Harald Zwart, Yngve Slyngstad who is CEO at the NBIM thought the sitcom was "very funny" | Photo: NBIM

"When you’re familiar with Norway’s political correctness, our social democratic principles, a country where people leave work at 4 p.m. to pick up their kids at kindergarten, you understand that this has the potential to be very funny," Zwart said by phone from Los Angeles.

Set up in the 1990s, the fund invests oil income abroad to avoid stoking inflation at home. Now at USD 1 trillion, it owns about 1.4 percent of global stocks, large holdings of bonds and properties across the globe. The nation of 5.3 million punches above its weight in international markets.

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