Norway Sovereign Wealth Fund Sees 4.2% 2026 Return as Markets Rebound
Norway's Sovereign Wealth Fund Performance and Market Impact
Positive Returns Amid Market Recovery
OSLO, May 5 (Reuters) - Norway's $2.2 trillion sovereign wealth fund, the world's largest, has seen a positive return on investment this year despite a weak start as markets recovered in April, fund CEO Nicolai Tangen told a parliamentary hearing on Tuesday.
First Quarter Losses and Contributing Factors
The fund last month reported a loss of 636 billion Norwegian crowns ($68.61 billion) for the January-March period, a negative return of 1.9%, as the war in the Middle East weighed on global stocks.
April Recovery and Updated Performance
"Following the recovery in April the fund is up 4.2% (as of 29 April), despite the highly turbulent situation in the Middle East," Tangen said in prepared remarks for a hearing of parliament's finance committee.
Additional Information
($1 = 9.2697 Norwegian crowns)
(Reporting by Gwladys Fouche in Oslo, editing by Terje Solsvik and Louise Rasmussen)
