The world’s largest pension funds have navigated a period of extreme volatility, with major losses reported across leading institutions due to geopolitical instability and market shifts. Recent Major Losses for Global Pension Leaders :

Reported an investment loss of (3.4%) in the January–March 2025 period.

Lost approximately (1.9%) in the first quarter of 2026 alone.

The world’s largest pension funds – 2025 - Thinking Ahead Institute

: Major funds are increasingly sensitive to the performance of a small number of US tech megacaps.

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: Conflict-related market shocks, such as the Iran war, have severely impacted high-multiple growth stocks.

The total decline in fund value reached when accounting for currency movements as the Norwegian krone strengthened.