Norway wealth fund posts first decline in 3 years

Oslo

THE world's largest sovereign wealth fund lost 73 billion kroner (S$12.3 billion) in the second quarter, the first decline in three years, dragged down by falling global bond and stock markets.

The US$870 billion fund declined 0.9 per cent, weighed down by a 2.2 per cent loss on its bonds and a 0.2 per cent drop on its stocks, the Oslo-based fund said on Wednesday. Its real estate holdings rose 2 per cent.