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."
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Great Eastern chairman appeals for patience as shareholders fume over share price ‘disaster’
S&P Global first-quarter profit beats estimates on strong product demand
Thai banks cut rate for some borrowers after push from PM
Money laundering accused who faces 22 charges to plead guilty on May 14
BNP Paribas beats estimates as lower costs offset trading slump
Japan brokerage Daiwa’s Q4 profit more than doubles as markets recover