FTFM The Norwegian Government Pension Fund suffered its worst year in 2008, losing NKr633bn (£69bn, $111bn, €77bn) or close to a quarter of its value. Critics likened it to gambling.
About NKr80bn of the losses were directly related to active management, which has prompted calls for a more passive investment strategy. In April, Norway’s finance ministry started a broad review on whether to continue active management of the NKr2,500bn fund, the world’s second largest sovereign wealth fund.
