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Norway Wealth Fund Lost Record $113 Billion in Stock Slump

  • Fund faces first forced asset sales for crisis fiscal spending
  • Stock portfolio lost 21%, fixed income returned 1.3%
Pedestrians walk towards the Royal Palace in Oslo.

Pedestrians walk towards the Royal Palace in Oslo.

Photographer: Odin Jaeger/Bloomberg
Updated on

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Norway’s sovereign wealth fund, the world’s biggest, lost a record 1.17 trillion kroner ($113 billion) in the first quarter after the economic shock caused by the coronavirus pandemic triggered a sell-off in global stock markets.