World's biggest wealth fund adds USD 8 billion to external mandates

Norway’s sovereign wealth fund, the world’s biggest, has this year added more than USD 8 billion to the pot of money that’s overseen by external managers, according to its chief executive officer.

Nicolai Tangen, who spoke at a parliamentary hearing in Oslo on Friday, revealed the figure after lawmakers questioned him on his plan to rely more on outside asset managers, including hedge funds, to help oversee the sovereign investor’s vast USD 1.1 trillion portfolio. | Photo: Tony Colli/PR

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