2018-11-07
The Norwegian Finance Ministry said in a letter to the central bank that the sovereign wealth fund should not include any new markets to its index of stocks until the completion of the revision of its composition.
 
The fund, which invests Norwegian oil and gas revenues in shares, real estate and foreign bonds, has the authority to exit the index but tends to increase investments in countries and regions as soon as it enters the index.
 
The letter, sent by the ministry on Tuesday, gives the central bank a deadline until June next year to assess how its current index affects the geographical distribution of investments, emerging market risks and other issues.
 
Under the ongoing review, the $ 995 billion fund should not add any new markets to the FTSE Global index for all shares as of January 1, 2019. The ministry said that,
 
The impact of the review on investments remains unclear.
The fund said on Oct. 26 that it planned to increase its investments in Saudi Arabia more than twice after the Kingdom was listed on the emerging market index expected in 2019.