Norway’s sovereign wealth fund, managed by Norges Bank Investment Management (NBIM), is proposing large cuts to its U.S. Treasury holdings. NBIM says it would lower the fund’s allocation to government bonds and make any transition gradually to limit market disruption and transaction costs.
According to the proposal described by outlets, the fund’s government bond allocation would drop from about 70% to 50%, with U.S. Treasurys expected to take the largest reduction. The move reflects how the fund adjusts its portfolio over time, but the outlets emphasize process details rather than changes to broader investment objectives.
One outlet highlights NBIM’s intention to implement changes in a staged way, while another focuses on the targeted shift within the government bond sleeve—specifically the reduction in U.S. Treasurys. Both accounts describe the same general direction: a significant decrease in Treasurys alongside a broader rebalancing away from government bonds at the stated percentages.
