Norway’s $570 billion sovereign wealth fund is expecting long-term benefits from European investments, said Yngve Slyngstad, Financial Times reports. The comment by the CEO of Norges Bank Investment Management, which invests Norway’s North Sea oil riches, comes even as the wealth fund is transferring more of its assets to emerging markets.
Debt crisis in Europe has accelerated economic reform rate, added Slyngstad. Currently, Europe accounts for half of the oil fund’s equity holdings. The oil fund owns about 2%of all European stocks.
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