Norway Fund Will Ditch Oil, Gas Investments

[Marina Schwarz + 1,576]

They've done it. Out with the oil and the gas in with the whatever that's less volatile for the world's largest sovereign wealth fund that grew so big thanks to oil. It's kind of poetic. 

[Rasmus Jorgensen + 1,169]

it's kind of clever. Not putting all the countrys eggs in 1 basket. Longterm palnning. No unnecesary emotional attachment. 

[Justin Hicks + 162]

2 hours ago, Marina Schwarz said:

They've done it. Out with the oil and the gas in with the whatever that's less volatile for the world's largest sovereign wealth fund that grew so big thanks to oil. It's kind of poetic. 

Yep, they're selling off a large percentage.

https://www.investmenteurope.net/news/4001269/norway-oil-fund-ditches-oil-holdings

[John Foote + 1,135]

It's worth noting the Norway fund is one of the best run on the planet. Singapore has an exceptional one. 

And Norway is still in the oil and gas business. They just aren't using it to buy into more oil and gas and the existing oil and gas won't get government assistance. Smart.

They are not killing their golden goose, they are accelerating their diversification. You are welcome to buy shares in Stat/Equinor. The Noway fund won't invest in it.

The American government's version of such a fund would be the taking social security funds, and loaning them to other parts of the government, for silly low interest rates, and call it decreasing the deficit. And we are critical of their approach.