Stocks: Norway's sovereign wealth fund posts billion-dollar loss – due to interest rate change
Rising interest rates have recently put pressure on the bonds of the world's largest sovereign wealth fund. Now the administration is proposing to relax the requirements for government bonds - including US government bonds.
Norway's sovereign wealth fund, managed by Norges Bank Investment Management (NBIM), reported a loss of 278 billion kroner ($26.44 billion) in the third quarter. The fund's global investments returned -0.5 percent. This marks the second quarterly loss in the past three quarters for the fund, which manages $2.3 trillion in assets and is the world's largest single investor. The fund's performance was 0.18 percent points below the target set by the finance ministry.
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.
