Newstrail.com

Norway sovereign fund loses more than $150bn thanks to tech rout

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City AM

By Andy Silvester Reuters Norway’s sovereign wealth fund, the world’s largest, made a record loss of 1.68 trillion Norwegian crowns ($174 billion) in the first half of 2022 as stocks and bonds were hit by global recession fears and rampant price inflation. The $1.3 trillion fund’s return on investment was a negative 14.4% for the January-June period, which was still 1.14 percentage points ahead of the return on its benchmark index. The decline, led by a 28% plunge in the value of its technology stocks, was the largest of any six-month period in the fund’s 26-year history, although some losses …

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