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Norway’s sovereign wealth fund says it is a victim in Turkish fund crisis

Norway’s sovereign wealth fund said it was among investors harmed in a crisis involving a Turkish fund and has taken steps to review its Turkish equity holdings. “Do you know who the victims are here? It’s the market participants who may have been manipulated,” Deputy CEO Trond Grande said on a call with reporters. “We are more victims than perpetrators.”

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AI take

The framing matters here: a major sovereign investor casting itself as a victim rather than an enabler signals that allocators are now focused on potential manipulation exposure in emerging-market holdings, not just returns. The review of Turkish equity positions is the concrete action to watch, since it could ripple through how other large institutions approach similar markets. Whether the fund's characterization holds up — and whether its review leads to broader de-risking — is the open question.

Generated by AI for reference only.

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