| The job of Norway’s $820bn sovereign wealth fund, the largest of those that fess up to the amount of assets in their care, is to prepare for the day when the oil money stops rolling in. Such a day may arrive sooner than expected as, while the country still has ample reserves of crude, the collapse in its price has slowed the cash to a trickle, a mere $2bn in the first half of this year.
Adjustments to Norway’s holdings, which include a noticeable percentage of the world’s stock markets, will have to come from reinvesting dividends and coupons, its manager said this week. At least Norway does not have to sell assets, yet. Saudi Arabia, as the Financial Times reported on Monday, has redeemed tens of billions of dollars from fund managers...............................................Full Article: Source
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