Global sovereign fund posts $29B Q3 loss
Norway's largest sovereign wealth fund in the world reported its losses in the third quarter of the year, amounting to $29.22 billion, affected by weak performance in its bond investments due to rising interest rates. The fund's total assets declined to approximately $2.36 trillion, with an investment return decrease of 0.5%. Its bond investments fell by 3.5%, while investments in equities and real estate experienced only modest increases. The Vice President explained that rising interest rates have led to a downturn in fixed income performance, along with cautious dealings in the stock market—particularly with major technology firms. This reflects the impact of inflationary pressures linked to the war in the Middle East and the resilient US economy, which have prompted central banks to raise interest rates.
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