Norway’s pension fund loses $13 billion in second quarter

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Norway's Government Pension Fund Global made a loss of Nkr77 billion ($13 billion) in the second quarter. The value of the sovereign wealth fund's equity investments declined 4.6% but this was partially offset by a 1.5% increase in fixed-income investments.

"A weaker-than-anticipated development in the world economy weighed on stock markets in the second quarter," said Yngve Slyngstad, chief executive of Norges Bank Investment Management, which manages the fund. "There was also increased uncerta

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