Norway’s Sovereign Wealth Fund (largest in the world at 1.6 trillion USD), posts world’s largest return…

Below excerpt article reported by Meredith. S. (2024, January 30). World’s largest sovereign wealth fund posts record $213 billion profit, boosted by tech stocks. CNBC

“Norway’s giant sovereign wealth fund on Tuesday reported record profit of 2.22 trillion kroner ($213 billion) in 2023, supported by robust returns on its investments in technology stocks.”

““Despite high inflation and geopolitical turmoil, the equity market in 2023 was very strong, compared to a weak year in 2022,” said Nicolai Tangen, chief executive of Norges Bank Investment Management.”

“It follows a record loss of 1.64 trillion Norwegian kroner for the whole of 2022, which the fund attributed to “very unusual” market conditions at the time.”

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