OSLO (Reuters) – Norway’s $1.7 trillion sovereign wealth fund, the world’s largest, will remain calm in the face of turbulent times, upholding a long-term investment strategy that is widely agreed upon, the government said in a strategy update on Thursday.
The fund has lost around 1.1 trillion Norwegian crowns ($101.38 billion) since the start of 2025 as asset prices fell sharply, the finance ministry said in an annual filing to parliament.
“In a time of greater unpredictability, broad risk diversification remains the best approach,” Finance Minister Jens Stoltenberg said in a statement.
The government did not propose any changes to ethics rules that ban the fund from investing in many of the world’s major weapons makers. Reversing the ban has been the subject of political debate in Norway in recent months.
($1 = 10.8503 Norwegian crowns)
(Reporting by Terje Solsvik, editing by Louise Rasmussen)
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