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Feb 17, 2017 | 17:20 GMT

Norway: Sovereign Wealth Fund Changes Planned

The Norwegian government announced two proposals Feb. 16 to the management of the Government Pension Fund Global, Regjeringen reported. The government will submit the proposal to lawmakers March 31 during an annual report presented before the Storting, the country's legislature. The first proposal would be to increase the share of equities in the fund from 62.5 percent to 70 percent. The second would lower the expected real rate of return from the fund from 4 percent to 3 percent. Both of these measures are meant to increase the fund's return rate and limit withdrawals. This $885 billion sovereign wealth fund is the world's largest. Since the 2014 oil price collapse, Norway and other major producers have had to make major changes in revenue management. In 2016, for example, the government withdrew money from the fund for the first time to cover budget shortfalls.
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