Norway's $1.6 trillion sovereign wealth fund reported a 6.3% return for Q1 2024, underperforming its benchmark due to weak real estate results.
Norway's $1.6 trillion sovereign wealth fund reported a 6.3% return for the first quarter of 2024, falling short of its benchmark. The fund, managed by Norges Bank Investment Management, gained 9.1% on stocks and lost 0.4% on fixed-income investments. The fund's underperformance was attributed to weak results in real estate. Despite the shortfall, the fund posted a record $109 billion Q1 profit, boosted by strong technology stocks.
April 18, 2024
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