11.03.2013 - Norway’s Oil Fund Jettisons Gilts
Norway's oil fund — the world's largest sovereign wealth fund — almost halved its exposure to UK and French government bonds last year while increasing it to debt from the US, Japan and Germany. The $712 billion fund slashed its holdings of UK government debt from 110 billion kroner at the end of 2011 to 60 billion kroner at the end of December. French bond holdings dropped from NKr80 billion to NKr44 billion over the same time period. The oil fund — known as Norges Bank Investment Management due to its position inside Norway's central bank — enjoyed its second best year since its formation in 1998 as buoyant equity markets helped it to a return of 13.4 percent...............................................Full Article: Source
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