Norway's wealth fund lost $21 billion in first half of 2020

Norway's $1.15 trillion sovereign wealth fund, the world's largest, posted a loss of 188 billion Norwegian crowns ($21.27 billion) in the first half of 2020 as stocks and real estate declined during the COVID-19 pandemic, it said on Tuesday. It also invests in bonds and real estate. ($1 = 8.8406 Norwegian crowns)

Norway's $1.15 trillion sovereign wealth fund, the world's largest, posted a loss of 188 billion Norwegian crowns ($21.27 billion) in the first half of 2020 as stocks and real estate declined during the COVID-19 pandemic, it said on Tuesday. "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 fund holds stakes in some 9,200 companies globally, owning 1.5% of all listed stocks. It also invests in bonds and real estate.