Chief executive officer Yngve Slyngstad(pic) has already said cashflow this year would be “significantly lower” than previously expected. In 2019, the fund got 243 billion kroner (US$23bil).
OSLO: Norway’s US$950bil sovereign wealth fund – the world’s biggest – is about to make history as it prepares to liquidate assets to cover government withdrawals.
The crisis triggered by the coronavirus pandemic is playing out very differently for the giant investor than the 2008 great recession. Back then, Norway’s wealth fund used the global sell-off to buy up cheap stocks. This time, the fund will probably need to offload a sizeable chunk of its bond portfolio.
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