Norway's wealth fund gets political pushback in asset bid

Oslo

NORWAY's biggest political party says the country's giant wealth fund needs to rethink its proposed entry into the US$20 trillion infrastructure market.

"With what we're seeing now with economic developments globally, and the short-term cost of that for Norway, it's time to put the brakes on," said Torstein Tvedt Solberg, a Labor Party politician who sits on the parliamentary finance committee that helps oversee the Norwegian sovereign wealth fund. "We shouldn't undergo structural shifts too fast" as there are "too many uncertainties with the oversight and structure of the fund".