Shock move by Norway oil fund “unlikely” to be copied

When the world’s biggest sovereign wealth fund proposes to dramatically change its investment approach, other institutions tend to take notice. Norway’s Norges Bank Investment Management (NBIM) said on Friday that it aimed to overhaul its fixed income benchmark by limiting it just to government bonds denominated in dollars, euros or sterling (instead of the current 23 currencies), and with maturities of around 10 years or less. While the $1 trillion fund's latest action i…