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Sovereign Wealth Funds Briefing - Categorized | Performance

Norway sovereign wealth fund loses $15 bln in 2011

Posted on 19 March 2012

Yngve SlyngstadNorway’s sovereign wealth fund lost $15 billion last year as European stock prices fell over uncertain growth prospects amid the debt crisis, the country’s central bank said. Investments made by the oil and gas rich country’s sovereign wealth fund suffered a 2.5 percent loss in 2011 worth 86 billion kronor ($15 billion, 11.4 billion euros).
“The result reflects substantial declines in share prices in 2011 and increased uncertainty about government debt in the euro area,” Yngve Slyngstad, chief executive officer of Norges Bank Investment Management (NBIM) which manages the fund, was quoted as saying in a central bank statement………………………………………..Full Article: Source


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