WITH the tumult in markets, some sovereign wealth funds (SWFs) or state-owned investment funds are having a tough time to achieve returns from real and financial assets.
There is a risk we have not seen the worst yet, warned Norge Bank Investment Management CEO Nikolai Tangen, as the Norway oil fund, which is the world’s largest SWF, swung into a 14.4% loss or US$174bil (RM818.1bil) in the first half of 2022, both in stocks and bonds, which was unusual.
