The world’s largest state asset fund, Norway Asset Fund, has largely announced 415 billion Norwegian crowns ($ 39.72 billion) in the first quarter due to negative investment returns in the technology sector.
Nicolai Tangen, CEO of Norges Bank Investment Management (NBIM) CEO Nicolai Tangen, who operates the asset fund worth $ 1.7 trillion, said, “This quarter was affected by the big fluctuation in the markets.”
The NBIM, which invests with the revenues generated by the Norwegian state from natural gas and oil production, has 1.5 percent of all shares traded on global exchanges. NBIM also invests in bonds, real estate and renewable energy assets.
In the first quarter, the fund announced that the equity investment profitability of the fund was minus 1.6 percent.
According to the data of the Norwegian Asset Fund, more than half of the assets of the NBIM as of the end of 2024 are shares, treasury bonds and real estates of companies in the United States.
As of the end of this quarter, 70 percent of the assets of the fund are included in the stocks. This rate was 71.4 percent as of the end of 2024. 27.7 percent of the portfolio of the asset fund constitutes bonds. This rate was 26.6 percent as of the end of 2024.
