Norway oil fund marks down Russia stocks by 87%

Country’s sovereign wealth fund moved equity holdings to lowest level of fair-value hierarchy

Norway’s oil fund, which in February pledged to fully divest its Russian holdings in response to Moscow’s invasion of Ukraine, ended the first half of the year holding onto most of those exposures, but slashed their fair value by 87%.

The fund, also known as the Government Pension Fund Global (GPFG), said it applied a downward adjustment to the fair value of Russian securities, based on the “estimated discount that market participants would demand to reflect the risk associated with the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here