Rallying equities helped the pension giant return 16.1% during the year, but it fell 18 basis points shy of its benchmark.
The institutional investors lost a combined total of nearly $162 million from investments in the bank’s holding company, SVB Financial Group.
Following a weak 2022, the Government Pension Fund Global’s market value rose to $1.443 trillion at the end of June.
The $1.4 trillion pension fund manager’s two-year research project will also investigate how resilience and sport psychology can boost results.
CEO Nicolai Tangen acknowledged that Norges Bank Investment Management ‘lost a considerable sum’ from the Silicon Valley Bank failure.
The $1.2 trillion fund aims to create a system to measure its climate risk exposure by 2025.
Despite losing 14.4%, the “oil fund” beat its benchmark by 114 basis points thanks to ... oil.
