The Norwegian wealth fund, the largest in the world with $ 1.15 trillion in assets, said on Friday it suffered a loss of NOK 449 billion ($ 43.47 billion) in the third quarter of 2022, as it is been hit by high interest rates, inflation and war in Europe. .
The fund’s return on investment was negative 4.4% over the July-September period, which is 0.14 percentage points higher than the fund’s benchmark return, according to “Reuters”.
and through first half of the yearThe Norwegian sovereign wealth fund suffered a loss of 1.68 trillion Norwegian kroner ($ 174 billion), at a time when stocks and bonds were hit by fears of a global recession and the explosion of price inflation.
Established in 1996, the fund invests the proceeds of the Norwegian oil and gas sector and has stakes in more than 9,300 companies globally and 1.3% of all listed shares.
