No new markets to be added to Norway's wealth fund equity index amid review: FinMin

Norway's sovereign wealth fund should not add new markets to its benchmark equity index until a review of its composition has been included, the Finance Ministry said in a letter to the central bank, which manages the fund.

The letter, dated Nov. 6, asked the central bank to evaluate by June 2019 how its current benchmark affects geographical distribution of investments, emerging market risks and other issues.

While the review is ongoing, the $995 billion fund should assign a zero index weight to any new markets that are included in the FTSE Global All Cap Index from Jan. 1, 2019, the ministry said.