Norway’s gigantic sovereign wealth fund loses a record $164 billion, citing ‘very unusual’ year
Norway’s sovereign wealth fund on Tuesday reported a record loss of 1.64 trillion Norwegian kroner ($164 billion) for the whole of 2022, citing “very unusual” market conditions. The so-called Government Pension Fund Global, among the world’s largest investors, returned -14.1% last year, which it said was 0.88 percentage points better than the return on its benchmark index. “The market was impacted by war in Europe, high inflation, and rising interest rates. This negatively impacted both the equity market and bond market...