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DNB phases out oil and shipping fund

The fund owns a majority share of the investment in BW Offshore and other oil companies, and so far this year, it shows a negative 41 percent return.
"The fund DNB Navigator was established in 1997, and is now being phased out after 23 years. This relates to a dropping interest from our customers – especially in the last year," writes DNB Communications Advisor Cecilie Skjennald in an email to the Norwegian business newspaper Dagens Næringsliv. | Photo: Stig B. Fiksdal
"The fund DNB Navigator was established in 1997, and is now being phased out after 23 years. This relates to a dropping interest from our customers – especially in the last year," writes DNB Communications Advisor Cecilie Skjennald in an email to the Norwegian business newspaper Dagens Næringsliv. | Photo: Stig B. Fiksdal
BY PERNILLE JOHNSEN

This far into the year, DNB Navigator has a negative return of 41 percent. It is one of the Norwegian-domiciled funds that have performed worst in the recent period, according to the fund overview at the Oslo stock exchange. For this reason, the fund is now being phased out.

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