Norway's $1 Trillion Wealth Fund Suddenly Considers Dumping $35 Billion Of Oil And Gas Stocks
One of the world's largest sovereign wealth funds, and one which ironically amassed the overwhelming majority of their wealth via rich oil reserves, is now looking to sell off some $35 billion worth of energy stocks. According to central bank Deputy Governor Egil Matsen, the move is intended simply to "spread the risks for the state's wealth," but one has to wonder whether the owner of 1.5% of the world's stocks has decided that oil has now moved into a period of secular decline. Per Bloomberg: