Norway's $1 trillion sovereign wealth fund should remain as unit of central bank

Norway's $1 trillion sovereign wealth fund, the world's largest, should remain as a unit of the central bank, the minority centre-right government proposed on Friday.

It also said the central bank should get a dedicated committee for monetary policy and financial stability, thus leaving more time for the bank's board to manage the wealth fund.

The proposal comes after a state-appointed commission recommended last year the fund become a separate entity. The fund has been run by a unit of the central bank since its launch in 1996.