Norway's Sovereign Wealth Fund Loses $164 bn in 2022

Norway's sovereign wealth fund, the world's largest, said Tuesday it recorded a loss of 1,637 billion Norwegian kroner ($164 billion) in 2022, citing volatile markets.

"The market was impacted by war in Europe, high inflation, and rising interest rates... All the sectors in the equity market had negative returns, with the exception of energy," Nicolai Tangen, CEO Nicolai Tangen of Norges Bank Investment Management which manages the fund, said in a statement, reports AFP.