World’s largest sovereign wealth fund reports $222 billion annual profit on tech rally

Norway’s sovereign wealth fund, the largest globally, reported a full-year profit of 2.5 trillion kroner fueled by a tech rally, with a 13% return on investment in 2024. Norges Bank Investment Management CEO Nicolai Tangen credited the strong stock market performance, particularly in American technology stocks, as the main driver behind the fund’s success. The fund, valued at 19.7 trillion kroner, invests in over 8,000 companies across 63 countries, with a portfolio consisting of equities, fixed income, real estate, and renewable energy infrastructure.

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