Norway's wealth fund says it is a victim of Türkiye's fund crisis
Norway's sovereign wealth fund, the world's largest, has disclosed that it suffered losses from Türkiye's investment fund crisis and is reviewing its investments on Borsa Istanbul.
Trond Grande, the fund's deputy CEO, addressed allegations of market manipulation, maintaining that the fund was a victim rather than a party responsible for the events. As of June 30, 2026, the fund, managed by Norges Bank Investment Management (NBIM), held approximately $2.2 billion in Turkish equities.
Grande said the fund was reviewing its Turkish equity positions and the external portfolio managers trading on its behalf, but did not provide details about potential investment decisions. According to Bloomberg, Norway's sovereign wealth fund maintained investments in three Turkish companies where manipulation had been identified in 2025 and participated in an initial public offering arranged by Tera Yatırım Menkul Değerler in July. Investigations into allegations that share prices were artificially inflated through certain investment funds in Türkiye remain ongoing, while the BIST All Shares Index has lost approximately one-third of its value since September.
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