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Sovereign Wealth Funds Briefing - Categorized | Financials, Performance

Norway wealth fund drops €29.4bn amid market rout

Posted on 30 October 2015

The world’s largest sovereign wealth fund, which is Norwegian, has posted its biggest loss in four years, just as the government is preparing to make its first ever withdrawals to plug budget deficits. The fund lost 273bn kroner (€29.4bn) in the third quarter, or 4.9%, as stocks declined 8.6% and bonds rose 0.9%, the Oslo-based fund said yesterday.
Real-estate holdings rose 3%. It was the first back-to-back quarterly loss in six years. “We have to expect fluctuations in the value of the fund, when there are large movements in the market,” Yngve Slyngstad, chief executive of the fund, said………………………………………..Full Article: Source


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