From CNBC: 2024-04-18 09:40:10

Norway’s sovereign wealth fund, the Government Pension Fund Global, reported a first-quarter profit of 1.21 trillion kroner ($110 billion) supported by strong returns on investments in technology stocks. The fund’s value was 17.7 trillion kroner at the end of March, with good returns on equity and fixed income but negative results in real estate. Equity investments yielded 9.1%, fixed income -0.4%, real estate -0.5%, and unlisted renewable energy infrastructure -11.4%.

Established in the 1990s to invest Norway’s oil and gas revenues, the fund has invested in 8,800+ companies across 70+ countries worldwide. Deputy CEO Trond Grande highlighted the fund’s strong performance in the tech sector. Market participants are reassessing investments in U.S. tech giants, including Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia, and Tesla. The market is now taking a more nuanced view of these companies and their business models.



Read more at CNBC:: World’s largest sovereign wealth fund posts $110 billion in Q1 profit