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Norway’s wealth fund posts heavy losses ...News
One of the world’s largest investment funds lost over $160 billion in 2022 amid market volatility Norway’s sovereign wealth fund, Government Pension Fund Global, posted a record loss of 1.64 trillion kroner ($164.4 billion) in 2022, according to data published on the fund’s website on Tuesday. The return on investment last year was negative 14.1%, according to the released figures. The fund’s equities holdings posted a 15.3% loss, while its fixed-income portfolio was down 12.1%. Nicolai Tangen, CEO of Norges Bank Investment Management, the entity that manages the fund, commented: “The market was impacted by war in
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