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Norway drops Malaysia, 9 others from fixed income benchmark

Norway drops Malaysia, 9 others from fixed income benchmark

Norway’s sovereign wealth fund, the world’s largest, will streamline its US$300 billion fixed-income portfolio by cutting emerging market bonds from the benchmark index it tracks, the Finance Ministry said.

Government and corporate bonds with a total value of $17 billion at the end of 2018 would be affected, according to a Reuters calculation based on fund data.