Norway’s multi-billion pension fund — the largest sovereign wealth fund in the world — reported negative returns for the first half of the year today, citing “major fluctuations” in equity markets, CNBC reports. “There were major fluctuations in the equity market in this period. According to the Sovereign Wealth Fund Institute, Norway has the largest wealth fund in the world, when ranked by total assets, followed by the China Investment Corporation and Abu Dhabi Investment Authority. European stocks returned -11.7 percent for the first half of 2020 and accounted for 31.6 percent of the fund’s equities. Meanwhile, emerging markets returned -7.3 percent and accounted for 11.5 percent of the portfolio.

Source: The Standard August 18, 2020 12:22 UTC