Norway's USD 1.3trn wealth fund encourages traders to bet against the market

Nicolai Tangen, the chief of Norway’s USD 1.3trn sovereign wealth fund, wants his traders to bet against the market.
Nicolai Tangen, chief executive of Norges Bank Investment Management. | Photo: Pr/norges Bank Investment Management
Nicolai Tangen, chief executive of Norges Bank Investment Management. | Photo: Pr/norges Bank Investment Management
By Kari Lundgren, Bloomberg

The world’s biggest owner of publicly traded companies, with roughly 1.3% of all listed stocks, on Thursday outlined a three-year plan to stem losses that have built up in the turbulent markets of 2022, exacerbated by soaring inflation, interest-rate hikes and war in Europe. The wealth fund is — for the first time in its history — looking to a future where investments yield a fraction of what it’s used to seeing.

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