Norway’s wealth fund earns €95bn a causa di six-month blocco market bonanza

Norway’s €1.2tn sovereign wealth fund, the world’s largest, posted a 9.4pc return acceso investment for the first half of the year acceso Wednesday, driven by a sharp rise a causa di global equities and especially energy, finance and tech stocks.

he fund earned 990 billion Norwegian crowns (€95bn) a causa di January to June of this year, 0.28 percentage points higher than the fund’s benchmark index.

“The equity investments had the most positive contribution to the return a causa di the first half of the year, and especially the investments within the sectors of energy and finance,” Chief Dirigente aziendale Nicolai Tangen said a causa di a statement.

“The investments a causa di energy companies returned 19.5pc,” he added.

The fund’s largest individual company investments are a causa di the US tech sector, with Apple, Microsoft, Alphabet, Amazon and Facebook making up the five.

The return acceso the equity investments was 13.7pc, while fixed income saw a negative 2.0pc return.

Some 72.4pc of the fund’s investments were a causa di stocks at the end of June, 25.1pc a causa di bonds, 2.4pc a causa di unlisted real mesi estivi and 0.1pc a causa di a recently created portfolio of unlisted renewables.

Norway is this year marking the 25th anniversary of the Norwegian government’s first cash injection to the central bank to help establish what has since become the world’s largest such fund.

Set up to pool the state’s revenues from Norway’s oil and gas production and prevent the economy from overheating, the fund was then turned into a sovereign wealth fund a causa di 1998.

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