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Sovereign Wealth Funds Briefing - Categorized | Investment

Norway’s oil fund doubles up down under

Posted on 13 March 2013

Norway’s $US712 billion ($690bn) oil fund increased its holdings in both Australian equities and fixed-income assets after being lured by higher yields down under. Among its major holdings is a 3 per cent stake in BHP Billiton, the world’s biggest mining company, that’s worth $2.27bn at current prices.
The appetite of global investors for Australian-dollar investments continues to rise after the country emerged from the financial crisis in better shape than many of its developed-market peers. Central banks in Russia, Switzerland and elsewhere have joined sovereign wealth funds and pension plans in increasing their holdings of Australian assets………………………………………..Full Article: Source


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