, one of the world’s largest investors, posted a record loss of 1.64 trillion crowns for 2022, bringing to an end a three-year run of soaring profits as stocks and bonds were hit by the Ukraine war and inflation.It ends a record-breaking streak for the fund, where annual returns exceeded 1 trillion crowns in each of the three years from 2019 to 2021, amounting to more than 4 trillion crowns combined.
The single biggest stock market loss came from the fund’s stake in Amazon, which declined in value by 56 billion crowns, followed by a loss in shares of Facebook owner Meta Platforms of 52 billion and in Tesla with 47 billion. “We have to be very conscious of the fact that the inflow came against a tragic backdrop in Europe,” Tangen said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Norway’s sovereign wealth fund posts record $164-billion lossNorway&39;s sovereign wealth fund, one of the world&39;s largest investors, on Tuesday reported a record loss of 1.64 trillion crowns ($164.4 billion) for 2022, bringing to an end a three-year run of soaring profits.
Source: gmanews - 🏆 11. / 68 Read more »
Germany pledges funds to help Brazil defend Amazon rainforestThe sum includes a donation of 35 million euros ($38 million) to the Amazon Fund to strengthen a billion-dollar initiative funded by Norway and Germany to protect the South American rainforest and fight deforestation.
Source: rapplerdotcom - 🏆 4. / 86 Read more »
UnionBank posts P12.67-B net income in 2022 - BusinessWorld OnlineUNIONBANK of the Philippines, Inc. booked a net income of P12.673 billion in 2022 amid improved net revenues and net interest income. The bank said in a disclosure to the local bourse on Monday that its net earnings inched up from the P12.578 billion posted in 2021 and translated to a return on average equity […]
Source: bworldph - 🏆 9. / 68 Read more »
WATCH: Joe Jonas posts teaser for new Jonas Brothers albumSinger-songwriter Joe Jonas posts on his social media a clip of a 27-second music video with his brothers Nick and Kevin.
Source: gmanews - 🏆 11. / 68 Read more »
DENR official: Creation of new posts will not cause duplication of functions | Jonathan L. MayugaTHERE is no duplication of functions among current offices and officials of the Department of Environment and Natural Resources (DENR)—a senior official of the state environment agency clarified. In a letter to the BusinessMirror, DENR Undersecretary for Policy, Planning and International Affairs Jonas R. Leones also said that, as the…
Source: BusinessMirror - 🏆 19. / 59 Read more »
Norway’s sovereign wealth fund posts record $164-billion lossNorway&39;s sovereign wealth fund, one of the world&39;s largest investors, on Tuesday reported a record loss of 1.64 trillion crowns ($164.4 billion) for 2022, bringing to an end a three-year run of soaring profits.
Source: gmanews - 🏆 11. / 68 Read more »