The Norwegian sovereign wealth fund, the largest in the world, recorded a loss of 1.68 trillion Norwegian kroner (US $ 174 billion) in the first half of 2022, while equity markets in general experienced a tumultuous six months. The $ 1.3 trillion fund posted a negative return of 14.4% over the reporting period as equities and bonds reacted violently to fears of a global recession and skyrocketing inflation. But the fund’s return was 1.14 basis points better than that of the benchmark index, the country’s Norges Bank said Wednesday, amounting to 156 billion kronor. “The market has been characterized by rising interest rates, high inflation and the war in Europe. Equity investments fell as much as 17%. Tech stocks did particularly badly, with a return of -28%, ”Norges Bank Investment Management CEO Nicolai Tangen said in a statement.
Norway: the largest sovereign wealth fund in the world in the red of 174 billion dollars
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