World’s Biggest Wealth Fund Dragged Closer to Dumping Assets
- Norway government looks set to withdraw $25 billion from fund
- Current crisis is much worse for Norway than previous slumps
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Norway’s $950 billion sovereign wealth fund -- the world’s biggest -- is about to make history as it prepares to liquidate assets to cover government withdrawals.
The crisis triggered by the coronavirus pandemic is playing out very differently for the giant investor than the 2008 great recession. Back then, Norway’s wealth fund used the global sell-off to buy up cheap stocks. This time, the fund will probably need to offload a sizable chunk of its bond portfolio.