Norway’s SWF eyes shift from European equities

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Øystein Olsen, governor of Norges Bank, said in a speech on November 29 that Norway's sovereign wealth fund will diversify investments away from Europe while maintaining the fund's high risk tolerance. The same day, the fund announced the purchase of a Sfr1 billion ($1.1 billion) office complex in Zurich.

The Government Pension Fund Global was set up to invest Norway's oil wealth and is managed by the Norges Bank. Olsen said the fund has grown to around 130% of Norwegian GDP, allowing the

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