The sovereign wealth fund said that there was a negative return of 23.3% on its investments in 2008, which when measured in international currency amounted to Nkr633 billion ($91.4 billion).
The news comes after Oslo placed a record amount of new capital into the fund, injecting Nkr384 billion over the course of 2008 all of which was invested in equities. The fund announced last year that it would shift its allocation to equities from 40% to 60%. Equities now account for almost half (49.6%) of i
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