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Oil Exit No-Brainer for Norway Wealth Fund, Amundi's Samama Says

  • Norway’s $1 trillion fund has proposed to exit oil, gas stocks
  • Oil-producing nation to decide on proposal in coming months
Equinor ASA Lift A Drilling Platform Onto The Biggest Ship In The World "Pioneering Spirit"
Photographer: Carina Johansen/Bloomberg

Norway will soon decide whether to let its $1 trillion sovereign wealth fund dump oil and gas stocks in order to reduce the nation’s overall exposure to crude prices.

To Frederic Samama, a French banker who’s taken a particular interest in sovereign funds and who co-heads institutional clients coverage at Amundi SA, Europe’s biggest asset manager, it’s obvious it should, since the fund is built on the state’s petroleum revenues.