Norway's $2.3 Trillion Oil Fund Lost $30 Billion in Q3

Norway Government Pension Fund Global (GPFG), the world's largest sovereign wealth fund commonly known as Norway's oil fund, reported a $30 billion loss in Q3 with a return of -0.5%, dragged down by rising interest rates and market volatility affecting its fixed-income and equity investments. Managed by Norges Bank Investment Management (NBIM), the fund reached a total size of $2.35 trillion as of September 30, holding an average of 1.5% of listed companies worldwide, with over half of its equity investments allocated to the U.S. market.