World’s Biggest Wealth Fund Faces Record $37 Billion Withdrawal
- Development could trigger $13 billion in asset sales
- Fund will need to dump bonds to meet rebalancing requirements
The withdrawal reveals the scale of the economic damage done by the twin crises of Covid-19 and a collapse in global oil markets.
Photographer: Odin Jaeger/BloombergThis article is for subscribers only.
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Norway plans to draw a record 382 billion kroner ($37 billion) from its wealth fund, forcing the world’s biggest sovereign investor to embark on an historic asset sale to generate cash.