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Norway’s $1.3 Trillion Wealth Fund Encourages Traders to Bet Against the Market

  • Norway’s sovereign wealth fund unveils three-year strategy
  • CEO Tangen says key to returns is betting against the market
Nicolai Tangen
Nicolai TangenPhotographer: Fredrik Solstad/Bloomberg
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Nicolai Tangen, the chief of Norway’s $1.3 trillion sovereign wealth fund, wants his traders to bet against the market.

The world’s biggest single owner of publicly traded companies, with roughly 1.3% of all listed stocks, on Thursday outlined a three-year plan to stem losses that have built up in the turbulent markets of 2022, exacerbated by soaring inflation, interest-rate hikes and war in Europe. The wealth fund is — for the first time in its history — looking to a future where investments yield a fraction of what it’s used to seeing.