Norway’s Pension Fund earned $ 111 billion on the growth of shares for the first six months of 2021, reports Reuters.
“Investments in stocks made the greatest positive contribution to the yield in the first half of the year, especially investments in the energy and financial sectors,” said Nikolay Tangen Foundation. In total, the share of “oil cubes” rose by 9.4 percent.
The profitability of investments in the energy companies amounted to 19.5 percent. In addition, the largest sovereign foundation in the world has actively invested in American IT companies: Apple, Microsoft, Alphabet, Amazon and Facebook. The fund’s portfolio package consists of shares (72.4 percent), bonds (25.1 percent) and real estate (2.4 percent).
Foundation was founded in 1990 to invest the extensions from the sale of oil to ensure the welfare of future generations of residents of the country. 25 years ago, money was charged for the first time. Currently, the cost of assets of the Foundation reaches 1.4 trillion dollars.
In mid-May, the Foundation allocated a record 50 billion dollars to restore the country after a coronavirus pandemic. In April, the Fund for the first time invested in the development of renewable energy, spending $ 1.63 billion to buy 50 percent of ORSted shares – the largest energy company Denmark specializing in wind power.