Norway’s Wealth Fund Posts Biggest Half-Year Loss on Record
- Loss of 14.4% was driven by slump in technology stocks
- Strong relative returns aren’t likely to continue, fund says
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Norway’s $1.3 trillion sovereign wealth fund posted its biggest loss on record as rate hikes, surging inflation and Russia’s invasion of Ukraine spurred volatility.
The Oslo-based fund, the world’s biggest, lost 14.4% in the six months through June. The loss of $174 billion was the fund’s biggest ever in currency terms for a half year, it said on Wednesday.