| Norway’s $870 billion sovereign wealth fund reported its first quarterly loss in three years on Wednesday, hauled down by sliding bond and stock markets. The world’s richest sovereign wealth fund owns about 1.3 percent of all global equities and has massive government and corporate bond holdings, so its performance and decisions are closely followed by investors across the world.
It lost 73 billion Norwegian crowns ($8.8 billion) in the second quarter – representing a negative return of about 1 percent on its investments. That was the first drop the fund had seen since the same period of 2012 – and a dramatic reversal from the record 401 billion crown gain in January-March this year...............................................Full Article: Source |