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FX.co ★ Norway wealth fund to move $50 billion to US stocks

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Forex-Humor:::2020-09-28T14:19:20

Norway wealth fund to move $50 billion to US stocks

The government of Norway proposed that Norway's sovereign wealth fund should shift most of its assets into the US and Canada, while cutting its holdings in Europe. Currently, Norway’s wealth fund is worth about $1.15 trillion. The proposal was brought forward to the parliament by the Norwegian government. This may bring $50 billion investments in US stocks, analysts at Reuters say. As for the European market, the wealth fund will continue to invest in European assets but to a lesser degree than before. Norway’s sovereign fund has historically given a high preference to those countries that Norway has the closest trade relations with. This mainly refers to the European countries and to a lesser extent the United States. In late June 2020, the US represented 41.6% of the fund’s stock market holdings in the amount of $760 billion. Experts see this figure rise to 48% after investments into the US market increase. At the same time, the share of European assets in the fund’s holdings may decrease to 26.5% from the current 33%. Notably, Europe accounted for 50% of the fund’s investments until 2012. Norway’s wealth fund is considered one of the richest institutions in the world. The fund currently owns about 1.5% of all stocks globally. In Europe, its ownership amounts to 2.6% of all listed shares, while its holdings in the Americas is just over 1%.


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