October 31, 2017 / 9:56 AM / 2 years ago

MOVES-Head of Norway's $27 billion domestic pension fund resigns

OSLO, Oct 31 (Reuters) - Olaug Svarva, the head of Norway’s $27 billion domestic government pension fund, has resigned and will leave her job on Feb. 1, she announced on Tuesday.

The 59-year-old has held the job for almost 12 years, and the board regrets her decision to leave, the fund said in a statement.

“I now wish to seek new opportunities and contribute to the development of Norwegian business life in other ways,” Svarva said.

The fund, which invests 85 percent of its assets in Norway and 15 percent in neighbouring Nordic countries, is not related to the Norwegian sovereign wealth fund, which holds assets worth $1 trillion and is not allowed to invest in its home country. (Reporting by Terje Solsvik, editing by Gwladys Fouche)

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