Norway’s oil fund has just suffered a $174 billion loss, its biggest half-year dollar decrease. Nicolai Tangen, the fund’s chief executive, says that the fund faces headwinds in the coming years and that there’s a significant possibility that the worst is yet to come. Tangen sites the reversal in monetary stimulus and low interest rates from the financial crisis through to the pandemic as responsible for the coming difficult markets.

Norway’s oil fund has just suffered a $174 billion loss, its biggest half-year dollar decrease. The loss was due to a widespread sell-off across all industries, save energy. Facebook held the single largest loss for the fund, which is manged by Norges Bank Investment Management.

The fund owns around 1.5% of every listed company throughout the globe.

The sovereign wealth fund has also recently cited cyber security as a top concern, as it is hit with nearly 100,000 attacks per year, where 1,000 are serious. This means around three attacks per day are serious. Top executives say cyber security is turning into a systematic risk as markets become more digitised.

Source: https://www.ft.com/content/10725417-9896-4cbf-830a-24ce65382226