
Norway’s sovereign wealth fund said it had lost $124B this year - minkeymaniac
https://www.reuters.com/article/us-health-coronavirus-norway-swf-markets/hedge-fund-manager-to-lead-norway-sovereign-fund-after-124-billion-loss-idUSKBN21D1H4
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AnotherGoodName
>Its investment portfolio dropped 16.2%, all but erasing the 20% gains made
last year

When pretty much all major stock indices drop by 30% this is a remarkable win.
I'm impressed they it's such a small percentage of the fund that was lost in
this climate.

Also how the hell did they make 20% last year. I guess it's true that the big
funds like this are simply way ahead of what any individual could ever hope to
achieve. Consistently smaller losses and bigger wins year on year.

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jcampbell1
They largely divested from fossil fuel for both environmental and
diversification purposes which certainly helped their returns.

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sp332
I could see that over the long term, but in one year? If divesting from fossil
fuels worked that fast, wouldn't everyone have done it already?

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dmurray
They timed it well. In other years, divesting from fossil fuels would have
meant underperforming the market (which they would probably have been fine
with) but they chose a good year to do it.

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chairmanwow1
Can we change the title to something less click-baity? They are still up for
the year.

Not to mention that it’s incredible the wealth fund has done so well in
relation to such a tremendous bear market.

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j7ake
Most fund managers would probably be happy that their portfolio only dropped
16%, with a gain of 20% one year before...

