Largest fund in the world loses $174 billion

17.08.2022,16:25


August 17, Fineko/abc.az. The Norwegian Wealth Fund, the world's largest fund with $1.3 trillion, reported a loss of $174 billion in the first half of this year.

The fund said in a statement that in the first 6 months of 2022 it suffered losses in the amount of $174 billion, ABC.AZ reports citing foreign media. Stocks, which account for the majority of the fund's investments, fell 17%, while fixed income assets dropped 9.3%.

Although the fund's non-government real estate assets grew by 7.1%, these assets account for 3% of the total investment.
The head of the fund, Nikolai Tangen, explains this with rising interest rates on the market, high inflation and the war in Europe.