Norway fund reduces India allocation, exits 22 listed companies in 2018

Value of the world's largest sovereign wealth fund's equity holdings is down $709 million over the previous year

Norway’s Government Pension Fund Global, the world’s largest sovereign wealth fund, has reduced its overall allocation to India during 2018, a look at its periodic disclosures reveal.

The value of the fund’s equity holdings is down by $709 million over the previous year. Also, the value of its debt holdings has fallen $1.51 billion. The fund registered returns of -4.9 per cent on its equity portfolio in rupee terms during 2018. Returns were down over 10 per cent in the funds’ currency basket. The debt portfolio also saw negative returns in market value, according to its disclosures, with India being among