Norges Bank Investment Management manages the Norwegian government pension fund, assets worth more than 15 trillion crowns, or around 1.3 billion euros. The fund lost 980 million Norwegian crowns in February 2023.
The bank explained that this came from “an error related to the way in which the fund calculated the benchmark index assigned to it” The responsible employee mentions “a manual error” Speaking to the Financial Times, the employee responsible for the error spoke on condition of anonymity. “It was a manual error. My mistake. I used the wrong date, December 1st instead of November 1st”