Norway's sovereign wealth fund, the world's largest at US$2.3 trillion, reported a third-quarter loss of 278 billion Norwegian crowns (US$29.71 billion), a return of minus 0.5% on its global investments. Deputy CEO Trond Grande said returns were close to flat and slightly negative because rising interest rates weighed on its fixed-income holdings. The fund, which invests the Norwegian state's oil and gas revenues, owns on average 1.5% of all listed companies globally, making it the world's largest single investor. It is invested in some 7,100 companies as well as bonds, property and renewable energy projects.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on freemalaysiatoday.com ↗
Keywords
Open a keyword to see other news on the same topic.
Related news
- World's largest wealth fund posts $30 billion loss after bond market turbulence
Norway's sovereign wealth fund, managed by Norges Bank Investment Management with $2.3 trillion in assets, reported a third-quarter accounting loss of 278 billion kroner ($29.7 billion). Fixed-income investments returned -3.5%, a key driver of the downturn, as rising interest rates weighed on bond holdings. Deputy CEO Trond Grande said the fund's return was close to flat but ended slightly negative.
- The Largest Wealth Fund in the World Got Hit by Rising Interest Rates. It Lost Tens of Billions in Q3.
Norway’s sovereign wealth fund, managed by NBIM, lost 278 billion kroner, about $30 billion, in Q3, largely because rising interest rates weakened bond markets. Fixed income makes up more than 25% of the portfolio, which holds 1,664 bonds from 51 countries, leaving the fund’s overall return near flat and slightly negative. NBIM recommends cutting government bonds in its benchmark to 50% from 70%, reducing U.S. Treasurys from 34.1% to 21.9% of the fixed-income benchmark while raising nongovernment U.S. fixed income to 27.6% from 16.2%. The fund held about $215 billion in U.S. government debt at the end of June, and it also proposes switching to market-value weighting instead of GDP-based country weights.
- Norway wealth fund posts $30 billion loss in third quarter
Norway's $2.3 trillion sovereign wealth fund, the world's largest, reported a loss of 278 billion Norwegian crowns ($29.71 billion) in the third quarter, with a return of minus 0.5%. Deputy CEO Trond Grande said the fund's return was close to flat but slightly negative, as rising interest rates weakened results on its fixed-income investments. The fund owns on average 1.5% of all listed companies globally and is invested in about 7,100 companies, as well as bonds, property and renewable energy projects.
- Norway : Largest $2 . 3 trillion sovereign wealth fund considers weapons investments
Norway is considering a major change to its sovereign wealth fund's ethics rules that would allow major US and European defense contractors back into the portfolio. The Gjedrem Committee, whose review was submitted to the Finance Ministry, proposes narrowing the nuclear weapons exclusion so it would not apply to firms headquartered in NPT nuclear-armed states that are Norway's allies, and allowing investment in makers of weapons systems needed for Norway's own defense. The committee also recommends dropping the requirement to assess whether arms makers' products are used in line with international humanitarian law, citing wars in the Middle East and Ukraine and a weakening rules-based order. It warned that exclusions could be seen as political decisions and that retaliation against the fund and Norwegian interests is possible. The fund is valued at about $2.3 trillion.
- Norway's $2 trillion wealth fund was frozen out of major defense companies. That may be about to change
Norway's sovereign oil fund, worth about 21.8 trillion Norwegian kroner ($2.3 trillion), could soon invest in Western defense companies after years of being largely shut out under state ethics guidelines. An independent committee led by Gjedrem has recommended a major shift: keep the nuclear weapons exclusion but narrow it, which would allow reinclusion of several European and American makers of nuclear-weapon components, and permit investment in firms making weapons Norway needs for its own defense. It also proposed dropping the requirement to assess whether arms makers' products are used in line with international humanitarian law. The committee said reassessing the framework was timely given geopolitical instability and the fund's greater influence, but warned that retaliation could hit the fund and Norwegian interests. It recommended the Council on Ethics continue operating but no longer advise the fund on taking action over ethical concerns.
- Norway may open €2 trillion wealth fund to nuclear weapons makers
Norway's sovereign wealth fund, the world's largest with assets of more than €2 trillion, could once again invest in nuclear weapons makers under a government-appointed commission's proposal published Thursday. The fund currently excludes 14 companies, including Airbus, BAE Systems, Boeing, Lockheed Martin and Safran, but the proposal would allow investment in arms makers based in NPT-recognised nuclear-weapon states that are NATO allies, such as British, French and American firms. The 434-page report, chaired by former central bank governor Svein Gjedrem, was submitted to Finance Minister Jens Stoltenberg, who noted the paradox that the fund cannot invest in companies crucial to Norway's security. The Council on Ethics would lose its power to directly recommend exclusions, a power already suspended pending the review. Public consultation runs until 15 January before the government presents its assessment to parliament next spring, and some left-leaning parties have already criticised the proposal.
Related markets
Latest news
- Musk's wants to merge SpaceX and Tesla: Here's what to know
Musk said SpaceX and Tesla have formed special committees to study a merger, which would be worth about $3.5 trillion combined and would be the largest corporate deal in history. SpaceX, valued at about $2 trillion after a record listing this year, absorbed Musk's AI startup xAI in February, while Tesla is valued at about $1.5 trillion. Musk holds about 82 percent of SpaceX's voting power but only about 20 percent at Tesla. Dan Ives puts the odds of a deal at 90 percent by early 2027, though Musk called the requirement of a majority of all Tesla shares 'quite a high hurdle'. Loyal retail investors hold an estimated 25 to 27 percent of Tesla shares, and legal obstacles appear slight because both companies moved their incorporation to Texas from Delaware.
- CoreWeave and Nebius Stocks Are Crashing. Time to Buy the Dip?
Shares of Nebius and CoreWeave each fell 25% in the week of October 12 to 16. The sell-off stems from the yield on CoreWeave's debt in the secondary market surging to 15%, versus roughly 5% on Treasuries, which pushes the debt into 'distressed' territory and signals doubts about its ability to meet obligations. Nebius sold off in sympathy as a fellow neocloud company. The bigger concern is that both companies must keep issuing debt to fund data centers, and if yields are high at issuance, the assumption of nearly unlimited cheap capital could be challenged. The author says it is unclear whether now is the time to buy.
- Disney’s multiplatform Super Bowl plan frustrates ABC affiliates
ABC station owners are irritated that Disney is airing the Super Bowl across several platforms, including Disney+, ESPN2, NFL Network and ESPNU, even though the game is already on ABC and ESPN. A station group CEO estimates that the combined platforms could cut broadcast ad revenue by up to 35% compared with last year. Local affiliates typically earn about 3% of annual ad revenue from the Super Bowl and pay network owners reverse retransmission fees, but Disney+ lacks geofenced ad insertion, so affiliates cannot sell ads to streaming viewers. Disney says national commercials will be identical on all platforms and that streaming major live events is standard industry practice. Super Bowl LX drew 125.6 million viewers in February.
- Meta’s deal to keep Zuckerberg in California adds fuel to wealth tax debate ahead of election
Meta says Mark Zuckerberg will remain in California for eight years and has created a new stock plan that could help cover his taxes if Proposition 40, a 5% tax on Californians worth over $1 billion, passes on Election Day on Nov. 3. According to a filing released with its third-quarter earnings, Meta will issue non-voting Class C shares starting in January, and Zuckerberg can sell or transfer up to 20% of the shares granted to him without affecting his majority voting control. The filing says Zuckerberg’s leadership is crucial to the company’s growth and its AI ambitions, including Meta Superintelligence Labs. Most of the tech industry opposes the measure, while a recent Citrin-Politico poll found 46% in favor and 43% against, suggesting it may fall short of the majority support it needs.
- Nasdaq sell-off: A momentum unwind 'for the record books'
Matt Stucky, chief portfolio manager for equities at Northwestern Mutual Wealth Management, calls Thursday’s sell-off in the Nasdaq Composite (^IXIC) a momentum unwind “for the record books.” He says the market spent the first half of 2026 driven by a beta and momentum trade led by semiconductors, but in the third quarter, as rates rose, money shifted into quality stocks. He does not think the sell-off is justified by fundamentals, arguing that institutional portfolio managers swapping out of factor positions can drag down whole baskets of stocks. In semiconductors, spot rental rates for Nvidia Blackwell chips are higher than a month ago, showing tightening compute supply, even as financing costs rise and investors worry about neocloud business models and the rising cost of insuring their bonds.
- Dune launches real-time data feeds covering 200 onchain trading venues
Blockchain analytics platform Dune has launched real-time market data feeds covering more than 200 onchain trading venues, aiming to bring this data into the systems of traditional financial institutions. The feeds draw trade data from 12 blockchains, including Ethereum, Solana and Base, about one second after execution, covering both spot trading on decentralized exchanges and perpetual futures on Hyperliquid and Lighter. Early clients include quant funds, market makers, asset managers and bank trading desks, which use the data to assess liquidity and compare prices, though Dune did not name them. Meanwhile, the tokenized stock market has grown sharply, with distributed value reaching $3.58 billion, but 16 companies, including Microsoft, Alphabet and Goldman Sachs, have objected to their shares being traded on OKXICE’s proposed platform, and liquidity remains fragmented.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.