Norway’s giant oil fund flaunts Achilles’ heel gfhay
Norway's sovereign wealth fund said on Feb. 27 that it made a minus 6.1 percent return on investment in 2018, compared with a positive return of 13.7 percent in 2017.
The fund, called Government Pension Fund Global, bought 185 billion Norwegian crowns worth of equities in the fourth quarter of 2018, but the fund overall lost 485 billion crowns during the year. The loss meant the fund lagged the benchmark index against which it is measured by 0.3 percentage points. Its value slipped to 8.3 trillion Norwegian crowns at the end of 2018 from 8.5 trillion crowns in 2017. However, the fund said that market gains so far in 2019 had wiped out last year's losses.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Analysis | Michael Cohen’s prepared testimony aims at Trump’s Achilles’ heel: Vietnam defermentsOn the day of Trump's second summit with North Korea, Vietnam serves as a through line.
Read more »
World's first 'floating tunnel' could be built in NorwayThe submerged roadway would significantly cut the travel time along the 700-mile route, which currently involves seven different ferry crossings, on the nation's rugged west coast. - NBCNewsMACH
Read more »
World's first 'floating tunnel' proposed in NorwayThe submerged roadway would help speed travel along the nation's rugged west coast.
Read more »
Supreme Court to decide if giant cross is religious symbol or secular memorial to war deadThe case raises a question that has vexed the justices for decades: What is the proper place for religion in American public life?
Read more »
Chinese search giant Baidu's online marketing business stable, streaming surgesChinese search engine operator Baidu Inc beat market estimates for fourth-quarte...
Read more »
Pharma giants are betting billions on gene therapies that could fundamentally change how we treat diseasesRecent deals like Roche's $4.8 billion bet on Spark and Novartis' $8.7 billion acquisition of AveXis show that big pharma is betting big on gene therapy.
Read more »