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Story summary
- NBIM CEO Nicolai Tangen proposed cutting the fund’s government-bond allocation from 70% to 50%.
- Tangen presented the proposal at the Arendalsuka conference on Aug. 13, 2025.
- The fund will reduce U.S. Treasury holdings from 34.1% to 21.9% of its portfolio.
- NBIM will weight bond holdings by market value rather than GDP.
- Economist Mohamed El-Erian said the shift signals traditional Treasury buyers are becoming less reliable.
