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Norwegian government asks manager of domestic oil fund to run crisis bond fund

Folketrygdfondet, the manager of Norway's domestic sovereign wealth fund, is being tasked with administering a new EUR 4.4 billion bond fund to help Norwegian companies access liquidity during the corona crisis.

Prime minister of Norway, Erna Solberg. Photo: Lise Aserud/AFP/Ritzau Scanpix

Folketrygdfondet is to manage the new Norwegian Government Bond Fund, the government announces. The asset manager is presently managing the Government Pension Fund Norway (GPFN) which is the smaller Nordic-investment portion of the country's huge sovereign wealth fund – the oil fund.

According to investors' news site Ipe.com, Folketrygdfondet will now reprise one of the roles it played in the aftermath of the 2008 financial crisis, when it managed the Government Bond Fund which invested in Norwegian companies between 2009 and 2014.

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