Norway's wealth fund posts $30 billion loss in third quarter

‌Norway's $2.3 trillion sovereign ​wealth fund, the world's largest, reported ‌on Thursday a loss of 278 billion Norwegian crowns ($29.71 billion) for the third quarter, with ‌a return of minus 0.5% on ‌its global investments.

"The fund's return was close to flat, ending slightly negative as rising interest rates ⁠led ​to ⁠weaker results on our fixed-income investments," deputy CEO ⁠Trond Grande said in a statement. Investing the Norwegian ​state's revenues from oil and gas production, ⁠the fund owns on average 1.5% of ⁠all ​listed companies globally, making it the world's largest single investor.

Overall, the fund ⁠is invested in some 7,100 companies as well ⁠as ⁠bonds, property and renewable energy projects. ($1 = 9.3582 Norwegian crowns)