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 fund last reported a quarterly loss one year ago.
"The stock market saw a weaker quarter compared to the two previous quarters," Trond Grande, deputy chief executive of Norges Bank Investment Management, said in a statement.
Norway's gigantic sovereign wealth fund was established in the 1990s to invest the surplus revenues of the country's oil and gas sector.
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%.
Persons:
Trond Grande
Organizations:
Fund Global, Norges Bank Investment Management