{"id":7230,"date":"2026-10-22T19:30:00","date_gmt":"2026-10-22T16:30:00","guid":{"rendered":"https:\/\/mikhailinvest.com\/norways-2-3-trillion-oil-fund-loses-30-billion-in-third-quarter\/"},"modified":"2026-10-22T19:30:00","modified_gmt":"2026-10-22T16:30:00","slug":"norways-2-3-trillion-oil-fund-loses-30-billion-in-third-quarter","status":"publish","type":"post","link":"https:\/\/mikhailinvest.com\/zh\/norways-2-3-trillion-oil-fund-loses-30-billion-in-third-quarter\/","title":{"rendered":"Norway’s $2.3 Trillion Oil Fund Loses $30 Billion in Third Quarter"},"content":{"rendered":"

The world\u2019s biggest sovereign wealth fund, Norway\u2019s $2.3-trillion Government Pension Fund Global, booked a loss of $30 billion for the third quarter as higher interest rates and market turbulence hit both its fixed-term and equity investments.<\/p>\n

Norway\u2019s Government Pension Fund Global (GPFG), which is commonly referred to as ‘Norway’s oil fund’ because it was created with oil and gas revenues, is a shareholder in many large companies in the world, with more than half of the value of its equity investments in the U.S. market.<\/p>\n

The Norwegian fund was created in the 1990s with the aim of ensuring long-term management of revenue from Norway\u2019s oil and gas resources. Today the wealth fund holds, on average, 1.5% of all listed companies in the world.<\/p>\n

Following a record-high profit of $185 billion<\/a> for the first half of 2026, boosted by Asian tech stocks, the sovereign wealth fund booked a negative -0.5% return for the third quarter, the fund\u2019s manager, Norges Bank Investment Management (NBIM), \u8bf4<\/a> \u661f\u671f\u56db\u3002.<\/p>\n

The negative return is a loss of 278 billion Norwegian crowns, or $29.69 billion, in accounting terms, for the world\u2019s single largest investor in Q3.<\/p>\n

\u201cThe fund\u2019s return was close to flat, ending slightly negative as rising interest rates led to weaker results on our fixed-income investments,\u201d said Trond Grande, Deputy CEO of Norges Bank Investment Management.<\/p>\n

\u201cEquity returns were also close to zero, but there were large differences between sectors. Energy companies rose the most, while interest-rate-sensitive sectors such as utilities and real estate fell,\u201d the executive added.<\/p>\n

As of September 30, 2026, the fund was valued at 22.014 trillion Norwegian crowns, or $2.35 trillion at today\u2019s exchange rate. Of the total value, 72.1% was invested in equities, 25.8% in fixed income, 1.6% in unlisted real estate, and 0.5% in unlisted renewable energy infrastructure. Nvidia, Apple, and Microsoft are the most valuable investments of the Norwegian wealth fund.<\/p>\n

\u67e5\u5c14\u65af\u00b7\u80af\u5c3c\u8fea\u64b0\u7a3f Oilprice.com<\/a><\/p>\n

\u66f4\u591a\u6765\u81ea Oilprice.com \u7684\u70ed\u95e8\u6587\u7ae0<\/strong><\/p>\n