Norway's sovereign wealth fund, the world's largest at $1.6 trillion, reported a record profit of $213 billion in 2023, marking a significant rebound from a record loss in 2022 of 1.64 trillion Norwegian crowns. The 16.1% return on investment was primarily driven by strong performance in technology stocks, particularly those in the artificial intelligence sector. Despite this success, the fund failed to meet its benchmark for the first time in five years due to losses in unlisted real estate.
First bad year in 5 years: Norway’s $1.6 trillion sovereign wealth fund failed to meet its benchmark for the first time in five years due to losses in unlisted real estate even as stock markets rebounded.
Norway wealth fund posts record $213 bln profit, driven by tech stocks https://t.co/eoDSn0ySnc https://t.co/fI9iCglr7b
#Norway wealth fund posts record $213 bln profit, driven by tech stocks https://t.co/ElnjUOLrM2
Norway's $1.6 trillion sovereign wealth fund, the world's largest, posted a record profit of $213 billion in 2023, driven by strong returns on its investments in technology stocks https://t.co/qMlSX2lGnm
Norway's $1.6 trillion sovereign wealth fund, the world's largest, posted a record profit of $213 billion in 2023, driven by strong returns on its investments in technology stocks. More here: https://t.co/vpPkvvEp0S
Norway’s $1.6 trillion sovereign wealth fund gains 16%, benefiting from a rebound in markets driven by technology stocks https://t.co/PUAbEJHA3i
💰 NORWAY SOVEREIGN WEALTH FUND: 2023 RETURN ON INVESTMENT WAS 16.1% (Reuters) - Norway's $1.6 trillion sovereign wealth fund, the world's largest, swung to a record profit of 2.22 trillion Norwegian crowns ($213 billion) in 2023 from a record loss in 2022 of 1.64 trillion…
Norway’s $1.5 trillion wealth fund added to its bets in the biggest technology companies last year after interest in artificial intelligence drove a surge in the sector. https://t.co/7y0S3bJpHB