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Sovereign Wealth Funds Briefing - Categorized | Asset Allocation, Financials, Market

Norway buys Greek debt as wealth fund sees no default

Posted on 10 September 2010

From Todayonline.com: Norway has stocked up on Greek bonds, saying Greece will not default on its debt in a major confidence booster for the beleaguered Hellenic state. Norway’s US$450-billion ($604-billion) Government Pension Fund Global, the world’s second-biggest sovereign wealth fund, has also accumulated bonds of Spain, Italy and Portugal.
Norwegian Finance Minister Sigbjoern Johnsen said he backed the strategy, which contributed to a 3.4-per-cent loss on European fixed income in the second quarter, compared with gains on bonds in Asia and the Americas……………………………………….Full Article: Source


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