Norwegian State Fund – Almost ten percent return – Economy

The Norwegian public pension fund posted strong gains in the first half of 2021. As the Norwegian Bank announced on Wednesday, the return was 9.4%. As of June 30, the fund, which is considered the largest sovereign wealth fund in the world, had a total value of 11.67 trillion crowns, which is the equivalent of 1.11 trillion euros. “Equity investments made the most positive contributions to returns in the first half of the year,” said Nicolai Tangen, director of Norges Bank Investment Management. Investments in the energy and financial sectors and in technology companies would have been particularly successful. The Norwegian pension fund acts as insurance for future generations when oil can no longer be exploited. It is powered by revenues from Norwegian oil and gas exploration, managed by the central bank on behalf of the Treasury, and invests in thousands of companies around the world, including large companies such as Microsoft, Apple and Amazon.

Related Articles

Back to top button