Norway SWF suffers biggest losses since 2008

Norges Bank Investment Management reports negative return of more than $160bn

Nkr200 notes

One of the world’s largest sovereign wealth funds, the Norwegian state pension fund, reported more than Nkr1.6 trillion ($163 billion) in losses for 2022 on January 31. The sum equals almost one-third of Norway’s GDP.

In a statement, Norges Bank Investment Management said it suffered a 15.3% loss on its equity stakes, and a 12.1% loss on fixed income investments. Its renewable energy assets earned a positive return of 5.1%.

In percentage terms, the losses are the largest since 2008, Bloomberg

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