| Norway will remain a bulwark against global stock declines as its sovereign wealth fund, the world’s biggest, proves to be an odd-ball among oil-built investment vehicles. “There’s been a lot of writing about oil-based sovereign wealth funds selling assets. Well, as a matter of fact, we have actually been net buying assets this year,” Yngve Slyngstad, CEO of the $830 billion fund, said in an interview in Oslo.
And the buying probably won’t stop soon. Unlike wealth funds in the Middle East and central Asia, Norway doesn’t foresee a need to sell assets, even as the government starts withdrawing money from its massive piggy bank to plug budget holes exacerbated by collapsing crude prices...............................................Full Article: Source
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