Norway’s sovereign wealth fund positive aspects $44 billion in third quarter

2020/10 16 00:10

Norway’s $1.16 trillion sovereign wealth fund, the world’s largest, posted a return of four.three% within the third quarter, equal to a achieve of 412 billion crowns ($44.31 billion), it stated on Thursday.

“The monetary markets have been nonetheless influenced by uncertainty associated to the coronavirus. Regardless, fairness markets returned nicely, principally resulting from sturdy efficiency within the expertise sector in (the) U.S.,” fund CEO Nicolai Tangen stated in an announcement.

The fund invests in some 9,200 corporations worldwide, proudly owning 1.5% of all listed shares. It additionally invests in bonds and actual property.

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