Norway’s central bank, Norges Bank, on Tuesday, January 30, 2024, at its headquarters in Oslo, Norway.
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Norway’s huge sovereign wealth fund reported third-quarter profits of NOK 835 billion ($76.3 billion) on Tuesday, citing lower interest rates that boosted stocks.
The so-called Global Government Pension Fund, one of the largest investors in the world, explain As of the end of September, its value was 18.870 trillion crowns.
The fund’s overall return for the quarter was 4.4%, 0.1 percentage point lower than the benchmark index’s return.
Trond Grand, deputy chief executive of Norges Bank Investment Management, said in a statement: “All our investment areas achieved positive returns. Falling interest rates led to a broad-based rally in equity markets.”
Norges Bank Investment Management (NBIM), which manages the world’s largest sovereign wealth fund, warned that rising uncertainty and a “completely different geopolitical situation” meant global stock markets now faced more risks.
norwegian sovereign wealth fund, the world’s largestestablished in the 1990s to invest surplus revenues from the country’s oil and gas industry. To date, the fund has invested in more than 8,760 companies in 71 countries around the world.
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