World’s Biggest Wealth Fund Struggles With Market Pay Off: ChartBy
Norway’s $890 billion sovereign wealth fund, the world’s biggest, may have eked out a gain in second quarter as broad stock and bond indexes rose. The fund, which release its report on Wednesday, has had losses for three of the past four quarters, struggling to navigate market turbulence at the same time as it faces the first-ever withdrawals by the government. Pressured by a collapse in oil prices, western Europe’s biggest crude producer is planning to lift more than $10 billion from its piggy bank this year to plug budget holes.
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