Norway's Sovereign Wealth Fund Surges with Record $213 Billion Profit from Tech Stocks
TL;DR Summary
Norway's sovereign wealth fund, the world's largest, reported a record profit of $213 billion in 2023, driven by strong returns on its investments in technology stocks. The fund's return on investment was 16.1%, slightly lower than its benchmark index, with significant gains in equity investments. Despite geopolitical tensions and inflation, the fund's CEO highlighted the negative impact on economic growth and world trade, as well as increased freight costs.
Topics:business#finance#geopolitical-tensions#investments#norway#sovereign-wealth-fund#technology-stocks
- World's largest sovereign wealth fund posts record $213 billion profit, boosted by tech stocks CNBC
- Norway Wealth Fund Has First Underperformance in Five Years Yahoo Finance
- Norway's $1.5 Trillion Wealth Fund Boosted Tech Stock Holdings Bloomberg
- World's Biggest Wealth Fund Notches 16% Return for 2023 The Wall Street Journal
- Bumper profits for Norway's giant wealth fund led by a strong performance by tech companies Newsday
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