August 27, 2019 / 9:16 AM / a year ago

Norway wealth fund should move more investments from Europe to North America

OSLO, Aug 27 (Reuters) - Norway's $1 trillion sovereign wealth fund, the world's largest, should reduce its exposure to European stock markets and instead invest more in North America, the Norwegian central bank, which manages the fund, recommended on Tuesday.

The fund has historically given a higher weighting to European stocks and a lower weighting to those of the United States, but this is no longer required, the central bank said.

It will be up to the finance ministry and parliament to decide whether to take up the advice of the central bank. (Reporting by Terje Solsvik, editing by Gwladys Fouche)

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