London | Norway’s $US1.3 trillion ($1.9 billion) sovereign wealth fund posted its steepest-ever first half loss as big bets on tech backfired.
The Oslo-based fund, the world’s biggest, lost $US174 billion of its value in the six months ended June 30, its biggest on record in currency terms. It lost 17 per cent on stocks, which comprise the largest share of its investments, and 9.3 per cent on fixed-income assets such as bonds.
