Norway’s Government Pension Fund Global (GPFG), the world’s largest sovereign wealth fund, posted a 374 billion crown ($33.80 billion) loss in the Q3, the fund said on Tuesday, hit by a heavy drop of the stocks and bonds value.
Equities – its biggest asset class, accounting for 70.6% of its value in the quarter – recorded a 2.1% loss.
Fixed income investments, which account for just above another quarter of its assets, returned a loss of 2.2%, and real estate assets of 3.3%.
Earlier, the fund posted an all-time record loss of 1.64 trillion crowns (just over $148 billion) for 2022.