The world's largest Norwegian sovereign wealth fund generated a return of 8.6 percent in the first half of this year. Earnings were made only from stocks, while both bonds and real estate and renewable energy investments had negative returns.
Its value increased by 1.478 trillion Norwegian kroner, or about 140 billion Norwegian kroner, in half a year. dollars to 17.745 trillion kroner.
The equity portfolio accounted for 72 percent of the fund's value at the end of June. In turn, bonds 26.1 percent and real estate – 1.7 percent. The renewable energy infrastructure in which the fund invests accounted for 0.1 percent of the total portfolio value.
Equity investments returned as much as 12.5 percent over the past half-year, while the fund reported losses in other asset classes. Bond investments returned minus one percent, as did unlisted real estate. The losses of the renewable energy infrastructure reached as much as 17.7 percent.
"Capital investments in the first half of the year gave a very high return. These results were mainly driven by technology stocks, as demand for new AI solutions increased," said Nicolai Tangen, CEO of Norges Bank Investment Management.
On a global scale, at the end of the half year, the Norwegian fund had invested in 8,763 shares of companies from 66 countries around the world. The most valuable share packages were in such companies as Microsoft ($42.6 billion), Apple ($36.7 billion), Nvidia ($35.4 billion). Taiwan's TMSC ($13.9 billion) from the semiconductor industry and Denmark's Novo Nordisk ($11.3 billion), which offers, among other things, anti-obesity drugs, or the Netherlands' ASML ($10.5 billion) also made the top ten. dollars), which makes equipment for semiconductor manufacturers.
