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.
...
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.

 

[searcher]

A U.S. ‘sovereign wealth fund’? Please, no.​

Since the 1930s, politicians in Washington have been taking our Social Security taxes and blowing the money on lousy, low-earning Treasury bonds.

Now some of them want to add insult to injury by taking another pile of our tax money and blowing it on a bunch of pet projects.

This includes Republican presidential nominee Donald Trump, who last week spoke out in favor of creating an American “sovereign wealth fund,” and the Biden administration, which promptly said they were already looking at the same thing.

More:

MSN

 

[searcher]

Beware of Sovereign Wealth Funds. Just Another Instrument of Control.​

Sep 10, 2024


19:34

 

[Fatrat]

Top of the market is not a great time to invest....

 

[searcher]

Post in thread 'Commodities, Business & Shipping (and Tariffs)'

Mar 21, 2025

Paying For Trump's Sovereign Wealth Fund: Social Security, Treasuries, Gold or Land?​

Mar 21, 2025 #jenniferlammer #bondbeginners #bondmasters

Will Social Security, Treasuries, gold or land be used to fund President Trump's US Sovereign Wealth Fund proposal? What's the purpose & could it really happen? Plus, why did former President Biden also want one?


18:30

SOURCES:

https://www.nytimes.com/2024/09/10/us/politics/us-sovereign-wealth-fund.html?searchResultPosition=3...

• searcher

 

[Casey Jones]

Top of the market is not a great time to invest....

A public fund controlled by politicians, is not a good place to park anything of value.

The first Left-leaning government that comes in, is gonna loot it - same as FEMA.

But it's looking like it's a done deal, essentially. Like Operation Warp Jab.

To the original post: Norway lost money because they couldn't redefine parameters. Their managers BELIEVED/believe in, fiat-dollar-based investments. When the fund was opened, they weren't wrong; but they couldn't process new information and they rejected historic realities. Such as the outcome of fiat-currencies.

I could have been there, but someone far wiser, counseled me 24 years ago. But when you're a legend in your own mind, you don't listen to the proles' braying.

The US fund will fail, for the absolute craven criminality of its Ruling Elites. No matter WHAT they put money into.

 

[Someone_else]

I think your point is about politicians governing investments...

 

[Casey Jones]

I think your point is about politicians governing investments...

Two points. First, the danger of corrupt bureaucrats - and that's most of them, in the USA and many European nations.

Second, the mental rigidity of even honest bureaucrats controlling such funds. That seems to be what is costing Norway these losses.

 

[Unca Walt]

To the original post: Norway lost money because they couldn't redefine parameters. Their managers BELIEVED/believe in, fiat-dollar-based investments. When the fund was opened, they weren't wrong; but they couldn't process new information and they rejected historic realities. Such as the outcome of fiat-currencies.

I could have been there, but someone far wiser, counseled me 24 years ago. But when you're a legend in your own mind, you don't listen to the proles' braying.

The US fund will fail, for the absolute craven criminality of its Ruling Elites. No matter WHAT they put money into.

My God... Has it been that fargin long?

 

[Casey Jones]

My God... Has it been that fargin long?

It has.

I remember the night I backtracked, after arguing against gold purchase for a couple of years. Sitting at a computer, like now. I was in my short-term rental outside Buffalo...off-season rental in a resort area (Chautauqua) 60 miles from the rail yard (Frontier Yard) in Buffalo. Waiting for the phone to ring - most railroad work is on-call, not scheduled. I was next up on the list, and would spend twelve hours climbing cars, checking oil and water, and watching signals and hoping for a short night.

I'd asked you the best online way to buy coins, and what form of coins might be the best. The dealer you recommended, was good then, not so much now...but I did get the coins, delivered via USPS, to my luxury loft apartment there. If I'd known what lay ahead a few years to the future (GFC) I'd have increased the first order 10x.

Back then I could climb two sets of stairs on a remodeled Victorian summer-home, and another circular staircase to the bedroom there. Now I can scarcely get out of bed.

Just hit me, how much things have changed...but elemental truths remain.

 

[Fatrat]

Which forum was it, GIM1 or the MSNBC? board...

 

[Casey Jones]

Which forum was it, GIM1 or the MSNBC? board...

Actually it was the NewsMax forum.

I was new online; Unca was newly retired and filling his time with all those new discussion boards. NewsMax was really a Webtopia - free discussion; none of us were being really guarded or pushing agendas. Walt even then was advocating buying gold and going to a gold standard.

I had to spout my ECON201 stuff about elastic currency, the Fed enables expansion of credit and thus, GROWTH. About all the checks in place to prevent abuse. Now, keep in mind, circa 2002, we had had twenty years of low inflation and growth - thanks to the trajectory Reagan and the Contract with America set us on.

Even Bubba and his witchlike wife, couldn't immediatly screw it up.

Walt pushed back. I went in harder, and Walt, being a genteel sort, backed off. But the topic of ownership, the wisdom of it, how to buy, kept popping up.

I could see diversification as a wise plan, so with time, I put my first order in. After Walt advised me privately of how it might go, and who I might buy from.

Ten k-rands for about $600 each. Delivered promptly, registered mail. Now I don't think there's any PM dealers in that rural NY county, but it never even occurred to me that buying gold bullion might be A Thing, outside of Vegas.

 

[nickndfl]

It has.

I remember the night I backtracked, after arguing against gold purchase for a couple of years. Sitting at a computer, like now. I was in my short-term rental outside Buffalo...off-season rental in a resort area (Chautauqua) 60 miles from the rail yard (Frontier Yard) in Buffalo. Waiting for the phone to ring - most railroad work is on-call, not scheduled. I was next up on the list, and would spend twelve hours climbing cars, checking oil and water, and watching signals and hoping for a short night.

I'd asked you the best online way to buy coins, and what form of coins might be the best. The dealer you recommended, was good then, not so much now...but I did get the coins, delivered via USPS, to my luxury loft apartment there. If I'd known what lay ahead a few years to the future (GFC) I'd have increased the first order 10x.

Back then I could climb two sets of stairs on a remodeled Victorian summer-home, and another circular staircase to the bedroom there. Now I can scarcely get out of bed.

Just hit me, how much things have changed...but elemental truths remain.

You and I are.living the same life with the bad backs and without the railroad stuff!