The profits of the largest sovereign wealth fund in the world amounted to 111 billion dollars in the first half of the year

Norway’s $1.4 trillion sovereign wealth fund, the world’s largest, posted a 9.4 percent return on investment for the first half of the year.

Reuters reported that the success in achieving those profits was driven by a strong rise in global stocks, in particular energy, financial and technology stocks.
The fund earned 990 billion Norwegian crowns ($111 billion) between January and June, 0.28 percentage points higher than the fund’s benchmark.

For his part, Nikolai Tangin, CEO, said in a statement, “Equity investments had the largest positive contribution to return in the first half of the year, especially investments within the energy and financial sectors,” noting that “investments in energy companies generated a return of 19.5 percent.”

The fund’s largest investments are in individual companies in the US technology sector, while Apple, Microsoft, Alphabet, Amazon and Facebook are the five largest investments.

The return on equity investments was 13.7 percent, while fixed income investments recorded a negative return of 2 percent.

About 72.4 percent of the fund’s investments were in stocks at the end of June, 25.1 percent in bonds, 2.4 percent in unlisted real estate companies and 0.1 percent in a newly formed portfolio of unlisted renewable resource companies.