Norway wealth fund loses 4.4% as inflation, rate hikes bite

Norway’s USD 1.2trn sovereign wealth fund reported a third quarterly loss in a row as global markets were dented by aggressive interest-rate hikes to fight surging inflation.

Deputy Chief Executive Officer Trond Grande | Photo: PR/ NBIM

By Kari Lundgren and Stephen Treloar / BLOOMBERG

The Oslo-based sovereign wealth fund, the world’s biggest, lost 4.4% in the third quarter, equivalent to about USD 43bn, according to a statement on Friday. Overall, the fund’s total return was 0.14 percentage points higher than that of the benchmark against which it measures itself.

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Norway wealth fund loses 4.4% as inflation, rate hikes bite

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Further reading

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