Norway Fund Reports $10 Billion Loss as Withdrawals Start
- Outflows from fund to government were 21 billion kroner
- Fund continued to add emerging markets in first three months
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Norway’s $870 billion sovereign wealth fund, the world’s biggest, returned to losses in the first quarter amid some of the most turbulent markets since the financial crisis as the government started withdrawals.
The Government Pension Fund Global lost 85 billion kroner ($10 billion), or 0.6 percent, after rising 3.6 percent in the fourth quarter, the Oslo-based investor said on Thursday. Its stock portfolio lost 2.9 percent, its bonds gained 3.3 percent and the real-estate investments fell 1.3 percent.