In 2023, Norway's $1.6 trillion sovereign wealth fund achieved a record profit of $213B due to tech stock investments, but underperformed its benchmark by 0.18%.

Norway's $1.6 trillion sovereign wealth fund 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 for the year stood at 16.1%, 0.18 percentage point lower than its benchmark index. This marks the first time since 2018 that the fund has failed to meet its benchmark. The fund, which is the world's largest, invests the Norwegian state's revenues from oil and gas production in equities, bonds, property, and renewable projects abroad and holds a significant stake in major technology companies such as Apple, Microsoft, and Alphabet.

January 30, 2024
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