Authored by Charles Kennedy via OilPrice,
The world's biggest sovereign wealth fund, Norway's $2.3-trillion Government Pension Fund Global, booked a loss of $30 billion for the third quarter as higher interest rates and market turbulence hit both its fixed-term and equity investments.
Norway's Government Pension Fund Global (GPFG), which is commonly referred to as 'Norway's oil fund' because it was created with oil and gas revenues, is a shareholder in many large companies in the world, with more than half of the value of its equity investments in the U.S. market.
The Norwegian fund was created in the 1990s with the aim of ensuring long-term management of revenue from Norway's oil and gas resources. Today the wealth fund holds, on average, 1.5% of all listed companies in the world.
Following a record-high profit of $185 billion for the first half of 2026, boosted by Asian tech stocks, the sovereign wealth fund booked a negative -0.5% return for the third quarter, the fund's manager, Norges Bank Investment Management (NBIM), said on Thursday.
The negative return is a loss of 278 billion Norwegian crowns, or $29.69 billion, in accounting terms, for
