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13 February 2012

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Norway's e236bn oil fund has e16bn sitting on sidelines for real estate

Norway's e236bn pension sovereign wealth fund has nearly e16bn `sitting on the sidelines' waiting for investment in real estate, according to executive director Yngve Slyngstad. The oil fund has been given permission by Oslo to allocate 5% of assets to real estate. It will begin investing in property in 2009 though it remains uncertain if it will start in the first or second half of the year.

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