Norway’s wealth fund posts biggest half-year loss on record

Norway’s $1.3 trillion sovereign wealth fund posted its biggest loss on record as rate hikes, surging inflation, and Russia’s invasion of Ukraine spurred volatility, Report informs, citing Bloomberg.

The Oslo-based fund, the world’s biggest, lost 14.4% in the six months through June. The loss of $174 billion was the fund’s biggest ever in currency terms for a half year, it said on August 17.