Norway wealth fund posts record US$164b loss

OSLO, Jan 31 — Norway’s US$1.3 trillion (RM5.5 trillion) prosperity fund, just one of the world’s major investors, now claimed a file loss of 1.64 trillion crowns (RM700 billion) for 2022.

The former premier loss was 633 billion crowns in 2008.

The fund’s return on financial investment stood at minus 14.1% for the calendar year, which was .88 share point superior than the return on the fund’s benchmark index.

“The market place was impacted by war in Europe, higher inflation, and increasing fascination rates. This negatively impacted each the equity market and bond sector at the identical time, which is incredibly strange,” Main Govt Nicolai Tangen said in a assertion.

Established in 1996, the fund invests income from Norway’s oil and gas sector and holds stakes in some 9,300 businesses globally, owning 1.3% of all listed shares. It also invests in bonds, unlisted authentic estate and renewable electrical power assignments. — Reuters