Norway’s EUR 862 billion wealth fund set to buy stocks due to rout

Norway’s sovereign wealth fund is set to buy equities after the market rout decimated its stock holdings.

Oslo, the Norwegian capital. | Photo: Jens Dresling

The EUR 862 billion (USD 945 billion) oil fund’s equity portfolio has dropped 23 percent so far this year, meaning it accounts for slightly more than 65 percent of total investments, far below the 70 percent target in its mandate.

“The fund is in a situation that will likely trigger a so-called rebalancing rule,” Chief Executive Officer Yngve Slyngstad said at a press conference in Oslo.

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