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

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.

For all the latest headlines follow our Google News channel online or via the app.

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.

Read more:

Norway arrests man suspected of providing state secrets to foreign power

Coronavirus: 33 crew members test positive for COVID-19 on Norwegian cruise ship

Norway plans to keep oil output cuts unchanged following OPEC+ extension deal