NBIM Reports Norway GPFG Lost About $30 Billion in Q3
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Norges Bank Investment Management (NBIM) announced that the Government Pension Fund Global (GPFG), the world's largest sovereign wealth fund, posted a return of -0.5% in the third quarter of 2026, corresponding to an unrealized loss of NOK 278 billion, or approximately USD 29.69 billion. As of September 30, 2026, the fund's total size was NOK 22.014 trillion, equivalent to about USD 2.35 trillion at current exchange rates. It holds an average of 1.5% of listed companies worldwide, with more than half of its equity investments allocated to the US market. ZeroHedge stated that the quarterly loss was driven by rising interest rates and market volatility, which weighed on fixed-income and equity investments.
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- ZeroHedgeNorway'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.
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