The world’s largest sovereign wealth fund achieved a profit of 110 billion USD in the first quarter
Facade of the Norwegian central bank, also known as Norges Bank, in Oslo, Norway.
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Norway’s giant sovereign wealth fund on Thursday reported first-quarter profits of 1.21 trillion kroner ($109.9 billion), backed by strong returns on its investments in stocks. technology.
“Our equity investments delivered strong returns in the first quarter, driven in particular by the technology sector,” Trond Grande, the fund’s deputy chief executive officer, said in a statement. .
Norway’s sovereign wealth fund, the largest place in the World, was founded in the 1990s to invest in the surplus revenues of the domestic oil and gas industry. To date, the fund has poured money into more than 8,800 companies in more than 70 countries around the world.
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