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Norway's USD 1.3trn fund dumped Saudi shares, added Qatar

Norway’s sovereign wealth fund slashed its exposure to Saudi Arabian stocks last year while boosting its portfolio in neighboring Qatar by almost seven times.

Doha in Qatar | Photo: Miriam Dalsgaard

Total holdings of shares in Riyadh fell to about USD 194m as of the end of December from USD 420m the year before, according to data from Norges Bank Investment Management, which manages the fund.

In Doha, exposure surged to USD 582m from USD 80m. Qatar is now its second-biggest holding in the Gulf after the United Arab Emirates.

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