Aktien: Norwegens Staatsfonds verbucht Milliardenverlust – wegen Zinswende

The world's largest sovereign wealth fund from Norway recorded a billion-dollar loss in the third quarter, primarily due to a reversal in interest rates. The revenue on global investments stood at a negative 0.5 percent, according to the fund management of Norges Bank Investment Management (NBIM), which is a division of the country's central bank.

This was the second consecutive quarterly loss in the past three quarters. The fund invests the earnings from Norway's oil and gas production and is the world's largest single investor with assets worth 2.3 trillion dollars.

Trond Grande, NBIM's deputy chief executive, stated that the fund's return remained almost unchanged. He noted that rising interest rates had weakened the fund's bond investments. The fund lagged 0.18 percentage points behind the finance ministry's target. Grande explained that there were significant differences between industries in the stock market.

Energy stocks performed the best, while utilities and real estate stocks trailed behind. Non-listed real estate investments yielded 0.4 percent, while non-listed renewable energy infrastructure brought in 7.5 percent.