World biggest wealth fund loses $21 billion in first half of 2020 amid coronavirus

The Norwegian flag. (File photo: Reuters)

Norway’s $1.15 trillion sovereign wealth fund, the world’s largest, posted a loss of 188 billion Norwegian crowns ($21.27 billion) in the first half of 2020 as stocks and real estate declined during the COVID-19 pandemic, it said on Tuesday.

“Even though markets recovered well in the second quarter, we are still witnessing considerable uncertainty,” the fund’s deputy chief executive, Trond Grande, said in a statement.

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The fund holds stakes in some 9,200 companies globally, owning 1.5 percent of all listed stocks. It also invests in bonds and real estate.

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Last Update: Tuesday, 18 August 2020 KSA 10:20 - GMT 07:20
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