World’s Biggest Sovereign Wealth Fund Still Upbeat on Big Tech
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Norway’s $1.3 trillion wealth fund is still positive about the US technology giants, even after the sector led the investor to a record loss.
“The US tech companies would typically be amongst our top 10 holdings and we continue to think they’re well positioned,” Norges Bank Investment Management CEO Nicolai Tangen said in an interview on Bloomberg TV. The size of the holdings reflects their size in the benchmark for the fund, which is limited in how far it can stray from that index of global stocks, he said.