1 Min Read
TRONDHEIM, Norway, Dec 16 (Reuters) - Fixed income assets will probably yield poor returns on investment in the coming years, Norway's deputy central bank chief Egil Matsen, who oversees the world's largest sovereign wealth fund, said on Friday.
The central bank has recommended to the Norwegian government that the fund, which has overall assets of $869 billion, should cut its bond allocation from the current 35 percent and instead invest more in stocks.
"The outlook for return on (fixed income) investment in the next 10 to 15 years is pretty grim," Matsen told an investor conference. (Reporting by Camilla Knudsen, writing by Terje Solsvik, editing by Gwladys Fouche)