Oil nations budgets hit hard, markets in turmoil
Norway owns the world's largest sovereign wealth fund with $780 billion of the country's oil wealth invested in global markets.
In fact, officials who supervise the $780 billion fund haven't even discussed the possibility of shifting strategy, according to Egil Matsen, who this week started as the new deputy central bank governor in charge of oversight of the investor.
"There's no indication that we need to sell assets now, not at all," Matsen said in an interview in Oslo Thursday. "The governance structure around our sovereign wealth fund is actually designed to live through such periods."
Bloomberg reports that petrodollar funded sovereign wealth funds hold 5-10% of all assets.
But even if they're not selling, it's still important that they're likely to stop buying.
