World's largest sovereign wealth fund posts $34bn loss in Q3


Content Team
Image Credit: NewsBytes

The world's largest sovereign wealth fund, Norway's $1.4 trillion Government Pension Fund Global, has reported a loss of 374 billion Norwegian kroner (around $34 billion) in Q3 2023. Despite a -2.1% return on investment for the July-September period, the fund's performance was still 0.17 percentage points better than its benchmark index. Deputy CEO Trond Grande attributed the downturn to increasing interest rates and a weakening economy.