Norway wealth fund rejects call to boost EM bet

Oslo

NORWAY'S US$890 billion wealth fund shrugged off a call to increase emerging market (EM) investments after it built up over the past four years a position of about 10 per cent in the world's fastest growing economies.

"There are limits to such an allocation," Egil Matsen, the deputy governor at Norway's central bank who's in charge of overseeing the fund, said in an interview on Wednesday in Bergen, Norway. "We're comfortable with the geographic distribution of the fund now."