Norway Oil Fund Drops 4.2% in April

Norway's massive sovereign wealth fund, the Government Pension Fund Global (GPFG), reported a loss of 4.2% for April 2025, preliminary estimates show. Norges Bank Investment Management, the unit overseeing the fund, is set to release official monthly performance figures on May 14. The decline, measured in Norwegian kroner, was driven by a sell-off in US government bonds and a correction in technology stocks. The Nasdaq composite index, which includes shares of major tech companies, fell sharply during the month. US Treasury bonds also faced losses. At the end of March, the GPFG's value stood at 18.2 trillion Norwegian kroner, a sum equivalent to about $1.7 trillion. The April drop would bring the fund's value to roughly 17.4 trillion kroner, based on the preliminary estimates provided by market sources. The fund is the world's largest sovereign wealth fund, holding assets in stocks, bonds, real estate, and renewable energy projects globally. Neither Norges Bank officials nor fund managers have commented on the preliminary numbers publicly. The official release on May 14 will include a detailed breakdown of returns by asset class and region. Investors and analysts are watching closely for signs of how the fund is navigating volatile global markets, especially amid shifting interest rate expectations and tech sector volatility.