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International Business Times
International Business Times
Business

The Largest Wealth Fund in the World Got Hit by Rising Interest Rates. It Lost Tens of Billions in Q3.

Norway's sovereign wealth fund lost $30 billion in the third quarters, largely as a result of rising interest rates. (Credit: Getty Images)

Norway's sovereign wealth fund lost $30 billion in the third quarters, largely as a result of rising interest rates.

Norges Bank Investment Management (NBIM) noted that it lost 278 billion kroner after the global bond market soured over the past months.

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