Norway’s sovereign wealth fund, built on the back of the country’s oil wealth and the biggest in the world, reported its first quarterly loss in two years for January to March on the back of a global stock selloff that it had no means of avoiding as more than two-thirds of its holdings are in stocks. Commenting on the results, the chief executive of the fund, Yngve Slyngstad said , “The most important expression of risk in the fund is that the strategic equity share is set to 70 percent. This means that fluctuations in the fund’s value are predominantly determined by the development in global stock markets.” The Norway Government Pension Fund Global booked negative returns of 1.5 percent for the first quarter of the year, or a loss of US$15.1 billion (171 billion kroner). In stocks, the return was -2.2 percent, but in unlisted real estate investments […]