SWF Radar

Bloomberg reports that, “Norway’s sovereign wealth fund, the world’s second largest, suffered the worst quarter since it was established in 1998 in the first three months of the year as a global debt squeeze battered financial markets. The fund had a negative return on assets of 5.6 percent, measured by a weighted basket of currencies, reducing its value by 115 billion kroner ($22.9 billion). The government pumped another 88 billion kroner of oil and gas revenue into the investment fund.”