Norway’s oil fund suffers loss in second quarter
Losses of about $9 billion largely driven by fixed-income portfolio
Norway's sovereign wealth fund suffered a loss in the second quarter, with its fixed-income portfolio performing particularly poorly, said Norges Bank Investment Management (NBIM) today (August 19).
The Government Pension Fund Global, which is managed by NBIM, an offshoot of the central bank, made Q2 losses of 73 billion kroner ($8.8 billion) – a drop of 0.9%. At the end of the quarter the fund was worth 6.9 trillion kroner.
Fixed-income investments, which make up 34.5% of the fund's total value
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