Norway's Wealth Fund Lost $114 Billion In Q1 As Stocks Crash

Sumaira FH Published April 02, 2020 | 04:45 PM

Norway's wealth fund lost $114 billion in Q1 as stocks crash

OSLO, (UrduPoint / Pakistan Point News / WAM - 02nd Apr, 2020) Norway's $930 billion sovereign wealth fund, the world's largest, lost 1.17 trillion Norwegian crowns ($114 billion) in the first quarter as stock markets plunged amid the coronavirus outbreak, Reuters cited the fund as saying on Thursday.

The loss for the full quarter was slightly smaller than the 1.33 trillion crowns the fund reported it had lost year-to-date on 26th March.

The overall return in the first quarter was minus 14.6 percent compared with minus 16.2 percent reported year-to-date on 26th March.

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