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Norway's central bank seeks to keep management of $1 trillion wealth fund -board
October 26, 2017 / 8:17 AM / a month ago

Norway's central bank seeks to keep management of $1 trillion wealth fund -board

OSLO, Oct 26 (Reuters) - Norway’s $1-trillion sovereign wealth fund should remain as a unit of the Norwegian central bank, the board of the central bank said on Thursday, unless the fund is to invest in more unlisted assets in which case a split could be considered.

In June, a government-appointed commission recommended the fund should be run by a new state investment company to alleviate pressure on the central bank and allow the two to be managed independently.

Critics of the proposed split have argued that the fund’s risk profile is kept in check by a conservative culture at the central bank and that more independence could ultimately jeopardise the nation’s savings. (Reporting by Gwladys Fouche, editing by Terje Solsvik)

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