CEO Nicolai Tangen acknowledged that Norges Bank Investment Management ‘lost a considerable sum’ from the Silicon Valley Bank failure.
The $1.2 trillion fund aims to create a system to measure its climate risk exposure by 2025.
Despite losing 14.4%, the “oil fund” beat its benchmark by 114 basis points thanks to ... oil.
Pension giant’s 10-year return down over 2% after $112 billion first quarter loss.
Nicolai Tangen, a hedge fund manager based in London, will take over the nearly $1 trillion plan.