Following two world wars, the foundation changed its investment policy with the backing of the Swedish government in the 1950s, after the total amount under management declined. Since then, it has been free to invest in bonds, secured loans, real estate and most types of stocks. This, together with a tax- exemption in 1946, helped the Nobel Foundation reverse the trend of declining assets under management and the real value of the prize amount in krona terms was restored by 1991.

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