Norway’s wealth fund slumps to first loss in a year

nbim-chief-yngve-slyngstad

Government Pension Fund-Global, Norway's sovereign wealth fund, on Friday posted its first quarterly loss in a year as the slump in global equity markets dragged down its portfolio, causing an NKr155 billion ($25 billion) loss in the second quarter.

The fund suffered in part because about half of its investments are in Europe. "The decline was largely driven by concern over sovereign debt in some European countries, funding challenges for banks, and fears of a new economic slowdown," said Yngve

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