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Recession stunts Norway's pension fund

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Recession stunts Norway's pension fund

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Norway’s sovereign wealth fund lost the equivalent of 72 billion euros last year as its investments were ravaged by the global crisis.

The central bank in Oslo said it was the weakest performance in the fund’s ten year history. Norway is Europe’s biggest investor through what is known as the ‘oil fund’ The money from its oil and gas sales is used to buy international stocks and bonds to save for future generations when the crude runs out.