World's largest sovereign fund, Norway's, posted a loss of 278 billion kroner due to rising rates
Norway's sovereign fund, the world's largest with assets of about 2.1 trillion euros, reported an investment loss of 278 billion kroner (26.4 billion euros) for the third quarter. Bond returns were −3.5% amid a global market sell-off and rate hikes by the Fed and the ECB. The fund's overall return was −0.5%, and its value, adjusted for exchange rates and inflows, fell by 670 billion kroner.
Sevara Azamova