Sovereign Wealth Fund's Q1 Loss
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•Business
Business & Economics
World’s largest sovereign wealth fund reports $40 billion loss in first quarter on tech downturn
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Norges Bank Investment Management reported a first-quarter loss of 415 billion kroner ( $40 billion ) " The quarter has been impacted by significant market fluctuations. Our equity investments had a negative return, largely driven by the tech sector," CEO Nicolai Tangen said.
The fund's market value decreased by 1.215 trillion kroners through the first quarter .
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