Norwegian SWF in the red for Q1

Norway's Government Pension Fund - Global recorded a loss of 5.6% for the three months to March on the back of the slump in global equity markets.

The market value of the fund fell from Nkr2,019 billion ($403 billion) at the end of to Nkr1,946 billion ($389 billion). It is the first time that its value has fallen since 2002.

A sharp fall in equity prices, especially in Japan and Europe, precipitated by the global financial turmoil had led to a 12.67% loss on the fund's equity portfolio. The

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