World’s largest sovereign wealth fund loses $34 billion

[pmbug]

Norway's $1.4 trillion sovereign wealth fund, the world's largest, on Tuesday reported losses of 2.1% in the third quarter, as all asset classes fell in value.

The so-called Government Pension Fund Global returned a loss of 374 billion Norwegian kroner ($34 billion) in the third quarter, citing a weaker three-month period, compared to the first half of the year.
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Norway's gigantic sovereign wealth fund was established in the 1990s to invest the surplus revenues of the country's oil and gas sector. To date, the fund has put money in more than 9,200 companies in 70 countries around the world.

The fund reported a quarterly loss of 3.3% on its investments in unlisted real estate, while the third-quarter loss on its renewable energy infrastructure investments came in at 2.4%.

At the end of the third quarter, equities made up 70.6% of the fund's investments, a slight drop from three months earlier.

World’s largest sovereign wealth fund loses $34 billion as all asset classes fall in third quarter

Norway's $1.4 trillion sovereign wealth fund on Tuesday reported losses of 2.1% in the third quarter, as all asset classes fell in value.

www.cnbc.com

I found the fund's 2022 annual report here:

https://www.nbim.no/contentassets/99de366397a847db99ab7a156e15aaa0/gpfg_annual-report-2022.pdf

They invest in four categories: Equities, Fixed income, real estate, renewable energy infrastructure

Imagine if they had the wisdom to make even a 5% allocation in gold (roughly $70 billion)... At a gold price of $2,000/toz (for easy math), 1 tonne of gold would be $64,301,500, so $70b would be the equivalent of 108.8 (metric) tonnes.