Norway’s wealth fund sees no significant differences between oil, gas stocks and market

OSLO (Reuters) – Norway’s $1 trillion sovereign wealth fund said on Tuesday it found no significant differences in expected return for oil and gas stocks and the market.

“It might be beneficial for an investor that already has substantial oil price exposure outside their financial portfolio, not to add to this exposure by investing in oil and gas stocks in their financial portfolio,” the fund said in a discussion note.

The world’s largest sovereign wealth fund proposed on Nov. 17 to drop oil and gas stock from its index, sending energy stocks lower.

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