| Norway's $860 billion sovereign wealth fund was weighed down by poorly performing European investments in 2014 and will increase real estate holdings and again sell European bonds this year, it said on Friday.
The fund returned 7.6 percent last year, 0.8 percentage point below its internal benchmark based on global markets, as rock bottom bond yields, poor growth prospects and increasing geopolitical tensions in parts of Europe cut into returns. With low oil prices sharply reducing fresh inflow from the government, the fund will prioritise real estate after spending 2014 shifting its Europe-focused portfolio towards US and Asian assets...............................................Full Article: Source
|