Norway withdraw $2.7 bn from Brazil

Norway’s sovereign wealth fund, the world’s largest, cut about $2.7 bn from investments in Brazil last year, while excluding mining giant Vale and power utility Eletrobras from its portfolio. The Norwegian fund held $9.6 bn in Brazil as of December 2019, including $7.6 bn in stocks of 136 companies and $2 bn in fixed income. In the balance of 2020, investments in 151 Brazilian companies stood at $5.5 bn, while investments in fixed income stood at $1.45 bn.

Source: Valor International