Negative returns and stronger krone in Q3 decreased value of Norway's oil fund

All four major asset classes of Norway’s sovereign wealth fund yielded negative returns. A strengthened krone contributed negatively to the fund’s value. 
Trond Grande, deputy CEO at Norges Bank Investment Management. | Photo: Pr/ Nbim
Trond Grande, deputy CEO at Norges Bank Investment Management. | Photo: Pr/ Nbim

Norway’s Government Pension Fund Global, also known as Norway’s oil fund, returned -2.1% – equivalent to NOK -374bn (EUR -33.1bn) – in the third quarter of the year.

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