Norway split over new direction for $1tn sovereign wealth fund:
"Deep divisions have emerged in Norway’s government over the merits of allowing the country’s $1tn oil fund to become an investor in private equity, ahead of a decision on the matter this week.
The world’s largest sovereign wealth fund recommended in January that it be allowed to invest in private equity. A final decision is expected on Tuesday but the issue has sparked an unexpectedly fierce debate among government officials, according to several people involved in the process.
The ruling from Norway’s finance ministry comes at a time of growing debate over what kind of investor the oil fund should be. It is currently akin to a giant index-tracking fund, holding sizeable stakes in 9,000 companies, as well as bonds and unlisted property."
'via Blog this'
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