Stocks: Norway's sovereign wealth fund posts multi-billion loss
The sell-off in the bond market is also affecting the world's largest sovereign wealth fund. For the oil fund, this is already the second quarterly loss this year.
Norway's sovereign wealth fund posted a loss of 278 billion Norwegian kroner ($26.5 billion) in the third quarter. The fund, managed by Norges Bank Investment Management, achieved a return of -0.5% from July to September. The loss was attributed to weaker bond investment results, with a 3.5% loss in that sector. The fund's equity portfolio, however, gained 0.5% during the quarter. Its total value is equivalent to $2.3 trillion.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
