‘Tougher times ahead’: Don’t expect blowout returns to continue, CEO of $2.3 trillion fund warns after record first half

Nicolai Tangen, chief executive of Norges Bank Investment Management, addressed market prospects following his fund’s exceptional performance in the first half of the year. The entity, which manages Norway’s $2.3 trillion oil fund, generated a profit approaching $185 billion during the period, though this outcome emerged from volatile trading conditions.
The fund’s equity portfolio experienced significant swings, declining 2.6% during the opening quarter before rebounding with