Norway's sovereign wealth fund won’t join other petrodollar-stacked wealth funds in their market selloff.
Other sovereign wealth funds are selling assets—to the tune of $75B in equities and $110B in bonds—but the leadership of Norway's $780B fund hasn't even discussed following suit.
Egil Matsen, deputy governor of Norges (the central bank overseeing the fund), says the fund is built to live through market slumps, and is geared towards a long-term outlook, Bloomberg reports.
The move comes as the fund has been expanding its US real estate presence, with plans to double its real estate allocation to 10%. [Bloomberg]
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