Norway's oil fund hit by major loss
The past three months’ stock market performance has dragged Norway’s oil fund down, leading to negative returns.
BY ALEXANDER BITSCH, TRANSLATED BY CHRISTOFFER ØSTERGAARD
After seeing gains in the financial market in 2021, the first three months of 2022 marked a turn for the worse for Norway’s oil fund, known internationally as the Government Pension Fund Global. The fund thus came out of the first quarter with negative return of 4.9 percent, corresponding to NOK 653bn (EUR 67.7bn).
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