Nigerian Sovereign Fund Boosts Exposure to Asia, European Assets

Nigeria’s sovereign wealth fund reduced its exposure to the US at the beginning of this year and bought other investments to diversify its portfolio.

The fund, which had 4.42 trillion naira ($2.76 billion) under management as of December, reduced the exposure of its Future Generation Fund to US markets and bought more Japanese, Australian and European assets, Nigerian Sovereign Investment Authority Chief Executive Officer Aminu Umar-Sadiq said in an interview with Bloomberg TV on the sidelines of Qatar Economic Forum in Doha on Tuesday.