Key Takeaways
- • Norway's sovereign wealth fund posted a loss of over US$30 billion in the third quarter, according to Free Malaysia Today.
- • Deputy CEO Trond Grande said the fund's return was close to flat but ended slightly negative for the quarter.
- • Weaker results on fixed-income holdings were attributed to rising interest rates.
Summary
Norway's sovereign wealth fund reported a loss of over US$30 billion in the third quarter, according to Free Malaysia Today, which cited a headline stating the fund posted a US$30bil loss in the period. The fund's Deputy CEO, Trond Grande, said the fund's overall return was close to flat, ending slightly negative for the quarter.
Grande attributed the weaker performance to rising interest rates, which reduced the results of the fund's fixed-income investments. The available material is limited to a brief social media excerpt and a headline, so the full breakdown of asset-class returns, the fund's total market value, and any changes to its allocation were not available in the sources reviewed.
Grande attributed the weaker performance to rising interest rates, which reduced the results of the fund's fixed-income investments. The available material is limited to a brief social media excerpt and a headline, so the full breakdown of asset-class returns, the fund's total market value, and any changes to its allocation were not available in the sources reviewed.
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