By Walter Grand in Economy —

The world's largest sovereign fund reported record losses in the first half of the year - Forbes

The world's largest sovereign fund reported record losses in the first half of the year - Forbes
Photo by Mika Baumeister / Unsplash

The fund manages $1.2 trillion, lost $174 billion or 14% over six months. Mostly technology stocks fell 28%, stocks in general fell 17% and bonds fell 9.3%.

Tangen, the fund's CEO, attributed the stock market drop to rising interest rates, high inflation and Russia's SWOT in Ukraine.