Norway's investments struck by rising krone

Norges Bank today published its second quarter results for its investment management division, showing negative returns in both equity and fixed income markets. The negative performance was attributed to a combination of a global downturn in equity prices in June and but the most visible factor was a strong Norwegian krone.

The giant Government Pension Fund Global (formerly the Petroleum Fund) accounts for 78% of assets under Norges Bank Investment Management. The return on the fund in the se

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