“Today I tested positive for Covid-19," Tangen wrote on Linkedin. All rights reserved. "There were major fluctuations in the equity market in this period. Norway Government Pension … Rank Profile Total Assets Type Region; 1. Norway has amassed a $1 trillion sovereign wealth fund from decades of petroleum production that gives it tremendous fiscal fire power. 2  Norway’s Government Pension Fund Global is the largest in the world. We want to hear from you. "Strong demand for online solutions for working, education, shopping and entertainment due to the coronavirus pandemic contributed to this strong return," it added. Stocks in the Asia-Pacific region returned -4.6% and made up 23% of the fund's equity investments. About the fund Governance … The fund’s formal name is the Government Pension Fund Global. FORTUNE may receive compensation for some links to products and services on this website. “Had the revenues from North Sea oil been invested in a sovereign wealth fund in the 1980s, as happened in Norway, such a fund would have been worth over £500 billion today,” it stated. In 1990, the Norwegian parliament passed legislation to support this, creating what is now the Government Pension Fund Global, and the first money was deposited in the fund in 1996. Set up in 2007 with $200 billion in capital … Terms & Conditions. Its equity investments fell -6.8% and its real estate returned -1.6% over the first half, although its fixed-income investments rose by 5.1%. Powered and implemented by Interactive Data Managed Solutions. Sign up for free newsletters and get more CNBC delivered to your inbox. Norway sovereign wealth fund chief diagnosed with COVID-19 Back to video He added that a number of his colleagues at the fund, which has its offices in central Oslo, had been quarantined as a result of his positive COVID-19 test, taken on Wednesday, and that he was not sure how he caught the virus. "The year started with optimism, but the outlook of the equity market quickly turned when the Corona virus started to spread globally," Deputy CEO of Norges Bank Investment Management Trond Grande said in a statement. All Rights Reserved. Most … Stimulus check update: $600 checks will hit some bank accounts Tuesday night, says the Treasury, Everything jobless Americans need to know about the $300 unemployment benefit, The fight for a $2,000 stimulus check could cost Republicans the Senate, Trump’s delayed signing of the new relief bill won’t create a loss of unemployment payments after all, CA Notice at Collection and Privacy Notice, http://www.djindexes.com/mdsidx/html/tandc/indexestandcs.html. © 2020 Fortune Media IP Limited. The fund's total market value at the end of the six months was 10.4 trillion kroner, with 69.6% invested in equities, 27.6% in fixed income and 2.8% in unlisted real estate. Market data provided by Interactive Data. European stocks returned -11.7% for the first half of 2020 and accounted for 31.6% of the fund's equities. Norway's huge pension fund — the largest sovereign wealth fund in the world — reported negative returns for the first half of the year on Tuesday, citing "major fluctuations" in equity markets. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. It had 69.6% invested in equities, 27.6% in fixed income and 2.8% in unlisted real estate. A Division of NBCUniversal. All Rights Reserved. Quotes delayed at least 15 minutes. Yes, 1 followed by 12 zeros. Norway's huge pension fund — the largest sovereign wealth fund in the world — reported negative returns for the first half of the year on Tuesday, citing "major fluctuations" in equity markets. 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