Oil-based sovereign funds tipped for asset firesale
With oil-producing countries hit hard by the crude price crash, their state institutions will have to dump liquid assets and, by default, raise private market allocations, say industry experts.
![Oil-based sovereign funds tipped for asset firesale](https://cdn.i.haymarketmedia.asia/?n=asian-investor%2Fcontent%2Fshutterstock_191978009%20-%20oil%20pice%20drop%20barrel%20-%20medium%20res%20-%20crop.jpg&c=1&h=677&q=100&v=20244301&w=1204)
Investors the world over are taking big losses amid the coronavirus-driven market rout – but some have it even worse than most.
Sovereign wealth funds built on oil revenues are likely to be tapped to shore up their countries’ balance sheets, as is set to happen with the world's largest such institution in Norway. This follows the sharp drop in crude prices two weeks ago after Saudi Arabia, the largest producer, opted to flood the market with the commodity.
Hence oil funds will n…
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