Norwegian Sovereign Wealth Fund Headquarters
The world’s largest sovereign wealth fund reported a quarterly loss in the first three months of the year, as its market value fell by 1.215 trillion Norwegian crowns ($113 billion) due to currency fluctuations. 
Norway’s sovereign wealth fund recorded a loss of 415 billion Norwegian crowns ($40 billion) in the three months to March, driven by a slowdown in the technology sector.
“The quarter has been impacted by significant market fluctuations. Our equity investments had a negative return, largely driven by the tech sector,” said Nicolai Tangen, CEO of Norges Bank Investment Management.
The fund was valued at 18.53 trillion Norwegian crowns ($1.8 trillion) at the end of March, with 70% of its assets allocated to equities — a segment that posted a 1.6% loss during the quarter.
Norwegian Sovereign Wealth Fund Headquarters
The world’s largest sovereign wealth fund reported a quarterly loss in the first three months of the year, as its market value fell by 1.215 trillion Norwegian crowns ($113 billion) due to currency fluctuations.
Norway’s sovereign wealth fund recorded a loss of 415 billion Norwegian crowns ($40 billion) in the three months to March, driven by a slowdown in the technology sector.
“The quarter has been impacted by significant market fluctuations. Our equity investments had a negative return, largely driven by the tech sector,” said Nicolai Tangen, CEO of Norges Bank Investment Management.
The fund was valued at 18.53 trillion Norwegian crowns ($1.8 trillion) at the end of March, with 70% of its assets allocated to equities — a segment that posted a 1.6% loss during the quarter.
