Business Standard: Norway fund to invest $2 bn in Indian stocks

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Norway fund to invest $2 bn in Indian stocks

Norway fund to invest $2 bn in Indian stocks

Even as foreign institutional investors rapidly pull out their money from Dalal Street, Norway’s sovereign wealth fund, the world’s second largest, is set to invest $2 billion in Indian stocks.The Bombay Stock Exchange’s benchmark Sensex has been in a free fall this year, dipping below 10,000 last week, but the Norwegian government said the investments by the Government Pension Fund would take place between this month and January 2009.

The Norwegian Pension Fund, which has assets of EURO 273 billion, is the world’s largest sovereign wealth fund after only the Abu Dhabi Investment Authority, credited with assets of over EURO 682 billion.