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Norway Wealth Fund Struggling
World Economy

Norway Wealth Fund Struggling

Norway’s $890 billion Sovereign Wealth Fund, the world’s biggest, may have eked out a gain in second quarter as broad stock and bond indexes rose, Bloomberg reported. The fund, which will release its report on Wednesday, has had losses for three of the past four quarters, struggling to navigate market turbulence at the same time as it faces the first-ever withdrawals by the government. Pressured by a collapse in oil prices, western Europe’s biggest crude producer is planning to lift more than $10 billion from its piggy bank this year to plug budget holes.

 

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