Emmanuel Addeh in Abuja
The Nigerian Sovereign Wealth Fund, managed by the Nigerian Sovereign Investment Authority (NSIA), reduced its exposure to the US at the beginning of this year and bought other investments to diversify its portfolio, a Bloomberg report said yesterday.
The fund, which had 4.42 trillion naira or $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.