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CEO wants people to peek under hood of giant fund

Norway’s USD 1.2tn sovereign wealth fund, built from its oil wealth, is akin to a black box for many of the country’s 5.4 million citizens. Chief Executive Officer Nicolai Tangen is out to change that.
Norway’s USD 1.2tn sovereign wealth fund, built from its oil wealth, is akin to a black box for many of the country’s 5.4 million citizens. Chief Executive Officer Nicolai Tangen is out to change that. | Photo: STAFF/REUTERS / X01095
Norway’s USD 1.2tn sovereign wealth fund, built from its oil wealth, is akin to a black box for many of the country’s 5.4 million citizens. Chief Executive Officer Nicolai Tangen is out to change that. | Photo: STAFF/REUTERS / X01095
By Kari Lundgren / BLOOMBERG

Soaring inflation, turbulent financial markets and geopolitical uncertainty are weighing on the returns of the world’s biggest rainy-day fund. The CEO has started a communications overhaul to ensure that citizens, who collectively own the fund, understand why.

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