October 8, 2019 / 10:23 AM / 4 months ago

Norway's wealth fund says it must prepare for large fluctuations

OSLO, Oct 8 (Reuters) - Norway's $1.1 trillion sovereign wealth fund, the world's largest, must be prepared for significant swings in the value of its portfolio, its management said in a three-year strategy report on Tuesday.

Setting out its goals for the period from 2020 to the end of 2022, Norges Bank Investment Management said the fund will continue to hold around 70% of its assets in global equities, in line with a mandate set by parliament.

"Trends and disruptions in the global economy such as increased trade barriers, low global interest rates, changing technology paradigms and climate change will affect the fund. We should be prepared for large fluctuations in the value," it said. (Reporting by Terje Solsvik Editing by Andrew Heavens)

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