Norway's sovereign wealth fund plans to double investments in Saudi Arabia

27/10/2018 Argaam

 

Norway's sovereign wealth fund plans to more than double its investments in Saudi Arabia soon after it’s included in the fund’s reference index, Reuters reported, citing CEO Yngve Slyngstad.

 

The fund has $825 million worth of investments in the Kingdom’s banking, petrochemicals and healthcare sectors, the report said.

 

According to data compiled by Argaam, the Norwegian wealth fund had invested SAR 3.12 billion in around 42 Saudi firms by the end of 2017.

 

The fund’s reference index, the FTSE, will include Saudi Arabia in the coming year.

 

Norway's $970 billion wealth fund is the world's largest SWF. 

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