Money Makers Mentor

Norway’s Sovereign Wealth Fund loses $21 Billion in First Half

Norway’s sovereign wealth fund, the largest of its kind in the world, posted a loss of $21 billion in the first six months of the year, as the coronavirus pandemic ravaged the country’s portfolio of assets. In the first half of 2020, the Government Pension Fund Global returned -3.4%, equivalent to a loss of 188 billion kroner ($21 billion).

Norway’s Sovereign Wealth Fund

Norway’s sovereign wealth fund weathered a severe loss in the first half of the year as a rebound in stock markets wasn’t enough to sustain its record decline earlier this year.

The Oslo-based fund fell 3.4%, or 188 billion kroner ($21 billion), over the period, according the Norges Bank Government Pension Fund Global half year report.

“There were major fluctuations in the equity market in this period,” D…

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