The largest Norwegian fund in the world suffers losses of 43.5 billion dollars in 3 months

The Norwegian asset fund, the largest in the world with 1.15 trillion dollars of assetsaid Friday that it suffered a loss of NOK 449 billion ($ 43.47 billion) in the third quarter of 2022, as it was hit by high interest rates, inflation and war. in Europe. .

The fund’s return on investment was a negative 4.4% in the July-September period, or 0.14 percentage points in more than the performance of the fund’s benchmark index, according to “Reuters”.

During the first half of the year, the Norwegian sovereign wealth fund suffered a loss of 1.68 trillion Norwegian kroner ($ 174 billion), in one moment in whose stocks and bonds have been 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 owns holdings in over 9,300 companies globally and 1.3% of all listed shares.

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