Earnings

World’s largest sovereign wealth fund posts $110 billion in Q1 profit

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Norway's sovereign wealth fund looking at 'a meaningful allocation' in real estate and infrastructure, deputy CEO says

Norway’s giant sovereign wealth fund on Thursday reported a first-quarter profit of 1.21 trillion kroner ($110 billion), supported by robust returns on its investments in technology stocks.

The so-called Government Pension Fund Global, the world’s largest sovereign wealth fund, said it had a value of 17.7 trillion kroner at the end of March.

It described the relative return through the first three months of the year as “good” for equity and fixed income investments, but noted that “this was offset by weak results from real estate, leading to a negative result overall.”

The return on the fund’s equity investments in the first quarter came in at 9.1%, while the yield on the fixed income…



Source cnbc.com

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