Norway wealth fund posts history US$164b decline

OSLO, Jan 31 — Norway’s US$1.3 trillion (RM5.5 trillion) wealth fund, 1 of the world’s greatest traders, right now claimed a record decline of 1.64 trillion crowns (RM700 billion) for 2022.

The preceding greatest reduction was 633 billion crowns in 2008.

The fund’s return on expense stood at minus 14.1% for the 12 months, which was .88 proportion place superior than the return on the fund’s benchmark index.

“The market was impacted by war in Europe, high inflation, and increasing fascination prices. This negatively impacted equally the fairness marketplace and bond market place at the exact same time, which is extremely uncommon,” Main Government Nicolai Tangen said in a statement.

Established in 1996, the fund invests earnings from Norway’s oil and fuel sector and retains stakes in some 9,300 corporations globally, owning 1.3% of all detailed shares. It also invests in bonds, unlisted authentic estate and renewable strength jobs. — Reuters

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