Norway Oil Fund CEO opposes caps on technology sector investments

Nicolai Tangen, CEO of Norges Bank Investment Management, is defending the investment strategy of Norway’s Government Pension Fund Global (GPFG) as technology stocks represent an increasing portion of the national savings.

In a submission to the Ministry of Finance, Tangen and central bank governor Ida Wolden Bache advised against implementing caps on individual companies or specific sectors. The leadership warned that the massive scale of the fund could create risks, noting how rapidly the fund might be forced to sell assets during a market crisis.