The facade of Norway’s central financial institution, additionally recognized as Norges Bank, in Oslo, Norway.
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Norway’s big sovereign wealth fund on Thursday reported first-quarter profit of 1.21 trillion kroner ($109.9 billion), supported by strong returns on its investments in expertise stocks.
“Our equity investments had a very strong return in the first quarter, particularly driven by the tech sector,” Trond Grande, deputy CEO of the fund, stated in an announcement.
Norway’s sovereign wealth fund, the world’s largest, was established in the Nineteen Nineties to speculate the excess revenues of the nation’s oil and fuel sector. To date, the fund has put cash in greater than 8,800 corporations in greater than 70 nations all over the world.
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