Covid-19 crisis: World's largest sovereign wealth fund reports $21 bn loss

Norway’s $1.15 trillion sovereign wealth fund posted a loss of $21.27 billion in the first half of 2020 as stocks and real estate holdings fell in value during the Covid-19 pandemic, it said on Tuesday.
 

The decline followed record earnings in 2019, when the fund raked in profits of $180 billion as global stock markets soared. “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.
 

The world’s largest sovereign wealth fund holds stakes in some 9,200 companies globally, owning 1.5 per cent of