Oct
30
The World’s Biggest Wealth Fund Can’t Keep Up With the Surging Stock Market
By-
Gain in stocks pushed equity holdings toward 70% maximum level
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Other sovereign funds probably followed suit, JPMorgan says
The stock market is rallying too fast for the world’s biggest wealth fund.
Even though it raised its maximum allocation for stocks to 70 percent this year, Norges Bank ended up paring its equity holdings in the third quarter as the surge in prices sent its stockpile of shares toward the self-imposed limit. The move by the $970 billion fund mirrored those of other pension and sovereign wealth funds that form the backbone of world markets, according to research from JPMorgan Chase & Co…
The World’s Biggest Wealth Fund Can’t Keep Up With the Surging Stock Market
