Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guides
Guidance and tools
Shares
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks Stock plan guidance
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
Norway sovereign fund selling down UK stocks - report
(Sharecast News) - Norway's sovereign wealth fund is understood to be selling down its holdings in smaller UK stocks, it was reported on Monday. According to Sky News, Norway's Norges Bank Investment Management (NBIM) is selling stakes in "scores" of small and mid-cap companies quoted on the London Stock Exchange. Its positions in larger UK listed companies are not thought to be affected.
Citing City sources, Sky said several unnamed institutional investment groups had seen specific NBIM asset management mandates curtailed in recent weeks.
It is not clear why the $2trn fund, which invests revenues from Norway's vast oil and gas reserves, would be reducing its exposure to smaller London-listed stocks. However, global equity markets have surged over the last year, despite mounting geopolitical risks and subdued economic growth.
In the UK, the FTSE All-Share has put on 19% and the FTSE 250 13%. The blue chip index has risen 20%.
Much of the global growth in equity markets has been driven by tech stocks, on the back of the artificial intelligence boom.
Some market veterans, including JPMorgan Chase's Jamie Dimon, have warned of a potential AI bubble, though so far markets remain bullish.
NBIM said in December when questioned that it had not reduced its exposure to the UK. It has yet to comment on the latest report.
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Diversity, Equity & Inclusion Reports | Doing Business with Fidelity | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Staying secure | Statutory and Regulatory disclosures | Whistleblowing programme
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document or Product Summary document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.
