Norway's Sovereign Wealth Fund achieves record profit in 2024 with tech stocks: $300,000 in savings per capita

Norway's Sovereign Wealth Fund has announced its financial results for 2024. The fund generated an investment profit of 2 trillion 511 billion Norwegian kroner ($222 billion) from its investments in technology stocks last year. This marks the second consecutive year of record annual profits, surpassing the previous record of 2.2 trillion kroner set in 2023. The fund's investment return stood at 13 percent, while its market value was recorded at 19 trillion 742 billion Norwegian kroner ($1 trillion 744 billion) at the end of the year.

The fund's CEO, Nicolai Tangen, noted that equity investments provided an 18 percent return and stated the following:

''The fund achieved very good returns in 2024 as a result of a very strong stock market. American technology stocks, in particular, performed very well.''

The investment portfolio of Norway's Sovereign Wealth Fund consists of 71.4 percent equities, 26.6 percent fixed-income securities, 1.8 percent real estate investments, and 0.1 percent unlisted renewable energy infrastructure investments. Holding 1.5 percent of all shares in global stock markets, the fund is known as one of the world's largest investors.

Norway's Sovereign Wealth Fund CEO Nicolai Tangen

INVESTING FOR 35 YEARS

Since 1990, Norway's Sovereign Wealth Fund has been investing the proceeds from the country's oil and natural gas production into foreign stocks, bonds, and real estate markets. While the Norwegian government can use only a small portion of the fund's income, the remaining large portion is saved for future generations.

The fund's success is also viewed as a positive sign for future investments.

The size of Norway's Sovereign Wealth Fund equates to approximately $300,000 per capita in Norway, demonstrating the fund's impact on the country's economy.

News Source: Mustafa Büyüksipahi