OSLO: Norway's US$2.3 trillion sovereign wealth fund, the world's largest, reported on Thursday a loss of 278 billion Norwegian crowns (US$29.71 billion) for the third quarter, with a return of minus 0.5 per cent on its global investments.
"The fund's return was close to flat, ending slightly negative as rising interest rates led to weaker results on our fixed-income investments," deputy CEO Trond Grande said in a statement.
Investing the Norwegian state's revenues from oil and gas production, the fund owns on average 1.5 per cent of all listed companies globally, making it the world's largest single investor.
Overall, the fund is invested in some 7,100 companies as well as bonds, property and renewable energy projects.
