World’s biggest sovereign wealth fund takes a hit ...News

Russia Today - Economy
World’s biggest sovereign wealth fund takes a hit
source : Russia Today ( News ) () 41
The Norwegian ‘Oil Fund’ has reported a $74 billion loss in the first quarter Norway announced on Thursday that the nation’s sovereign wealth fund, the world’s largest, lost $74 billion (- 4.9%) during the first quarter of the year due to the market turmoil caused by geopolitical tensions in Ukraine. According to the country’s central bank, which operates the $1.3 trillion fund, the world’s largest single shareholder lost 5.2% on stocks and 4.8% on fixed income. “The first quarter has been characterized by geopolitical turbulence, which has also affected the markets,” the deputy head of the fund, Trond Grande, sai

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