2014-04-30 20:56:00
NORWAY: HOLD BACK ON RUSSIA
Norway's $860 billion sovereign wealth fund is holding off from making new investments in Russia because of the conflict in Ukraine, its chief executive said on Wednesday.
The fund usually looks to buy equities and bonds when markets are falling and sell when they rally, but it views the political turmoil over Ukraine a risk too far at the moment.
"In most other situations where there is market stress, we try to be a countercyclical investor," Yngve Slyngstad told Reuters. "Countercyclical does not really work well when the risk factors are of a geopolitical nature."
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