Norway wealth fund loses $74 bln in first quarter

Norway's sovereign wealth fund, the world's largest, posted a loss of 653 billion Norwegian crowns ($74.2 billion) in the first quarter of 2022 as the war in Ukraine and other global events hit stocks and bonds, it said on Thursday.

The $1.3 trillion fund's return on investment stood at a nagative 4.9% for the January-March period, which was still 0.66 percentage points better than the return on the fund's benchmark index. ($1 = 8.8006 Norwegian crowns)