Norway’s €265 billion ($400 billion) state oil fund has been given the go-ahead by the country’s finance ministry to increase its real estate allocation to five percent. This would bring the amount targeted to real estate to €13 billion.
Announcing the plan, Finance Minister Kristin Halvorsen said the allocation will be built up over several years.
The expansion is part of a larger annual review in which the fund revealed it will also increase its allocation to equities to 10 percent from the current 5 percent. It will also increase its attention to emerging markets.
Norway's massive $400 billion state oil fund is in a stable condition despite the international market turmoil and will add more emerging markets to its universe of investments, said Finance Minister Kristin Halvorsen. The report noted that high petroleum revenues and moderate financial returns helped the fund grow at the end of the second half of 2007.
If you do not receive this within five minutes, please try to sign in again. If the problem persists, please email: 
