Norwegian Sovereign Fund

Managers of the Norwegian sovereign wealth fund, which manages assets worth $2.3 trillion, are proposing to reduce US government bond holdings by $80 billion. The move aims to diversify the fund's sources of returns.

The Norwegian sovereign wealth fund has cut the number of Israeli companies in its portfolio by more than half due to ethical considerations under heavy political pressure. Its semi-annual report reveals that the value of its assets in Israel has actually increased, driven by the significant rally in the local market over the past two years.