Oslo — Norway’s $900bn sovereign wealth fund, the world’s largest, is neutral on investing in the US, despite its share of US investments in its portfolio reaching a record high, its CEO said on Tuesday. The fund also said it was comfortable with its present level of investment in China, the world’s second-largest economy, but that it would have to rise "considerably" at some point. It invests the proceeds from Norway’s revenues from oil and gas production in foreign stocks, bonds and real estate. Its value corresponds to about $171,000 for every Norwegian man, woman and child. The US is the largest country holding the fund, representing 42.3% of the fund’s total value at end-2016, or roughly $380bn, against 38.9% at end-2014. "We are currently neutral regarding our investments in the US with the actual portfolio as well as the reference index from our owner, the [Norwegian] finance ministry," CEO Yngve Slyngstad said. "The major shift in the portfolio in the past few years has been...
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