Norway's Fund Wants to Add Up to $100 Billion in U.S. Stocks
- Fund recommends dropping regional overweight on Europe stocks
- Finance ministry says will decide in spring of next year
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Norway’s wealth fund proposed overhauling its global holdings, calling for a shift away from Europe in a move that would allow it to boost its U.S. stock investments by as much $100 billion and take a larger chunk of the biggest technology companies.
In a letter sent to the Finance Ministry released on Tuesday, the $1 trillion fund recommended that its investments “be adjusted further towards float-adjusted market weights by increasing the weight of equities in North America and reducing the weight of equities in European developed markets.”