(Bloomberg) --

Norway’s sovereign wealth fund, the biggest of its kind, has lost 16% so far this year as global stock markets slumped amid the fallout of the coronavirus pandemic.

The fund’s stock portfolio had lost 23% as of Wednesday, the investor said in presentation material linked to its annual report on return and risk. The fund, which Norway invests in stocks, bonds and real estate abroad, was valued at 10.1 trillion kroner ($945 billion), a slightly higher value in the local currency than at the end of 2019 after a sell-off in the krone.

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