World’s largest sovereign wealth fund reports $222 billion profit

The sovereign wealth fund in Norway – the largest of its kind in the world – to publish The entire year profit 2.5 trillion Kronor (222.4 billion dollars) on Wednesday, feeding a technical gathering.

In the profit report, Norges Bank of Investment Management (NBIM) said that the World Pension Fund of 19.7 trillion Crohn at the end of 2024.

“The fund has made very good returns in 2024, as a result of the very strong stock market. US technology shares in particular were very good,” Nikolai Tangin, CEO of Norges Bank Investment Management said in a statement.

Speaking at a press conference on Wednesday, NBIM TROND Grande, “a very strong year for stocks”, described the largest return to the fund in 2024.

More specifically, he pointed out that the returns were driven by certain sectors, especially as a result leap In technical stocks.

Technology [has been] Really strong, driven by artificial intelligence, as well as financial statements due to high interest rates for a longer period. “

NBIM runs the box on behalf of the Norwegian population. It was created in the 1990s to invest in the Norwegian oil and gas industry, and is currently investing in more than 8,000 companies in 63 countries.

The fund is a shareholder in international companies, including technology giants appleand Microsoftand Nafidia and AmazonWith 70 % of its standard index consisting of stocks.

The sovereign wealth fund also invests in fixed income, including government bonds and companies, as well as in the infrastructure of renewable real estate and energy.

This urgent news story is updated.