Norway’s oil fund reports worst annual results since 2008

norway-oil

Higher financial volatility has put a major dent in Norway’s sovereign wealth fund, which in 2018 recorded its worst results since 2008, it revealed today (February 27).

The Government Pension Fund Global recorded a return of 6.1% in 2018. It is the fund’s worst overall performance since the 2008 financial crisis, when it had a return of 23.3%. As a result, the market value of the GPFG’s assets fell to Nkr8.25 trillion ($966 billion) from Nkr8.5 trillion at the end of 2017.

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