The world’s largest sovereign wealth fund has announced its financial report.
Norway’s sovereign wealth fund is the largest sovereign wealth fund in the world.
The fund was initially established with the country’s oil revenue as its foundation, supporting and preserving the national wealth and making it profitable.
The fund’s investment portfolio spans a wide range of stocks in various industries and companies. Its periodic reports on performance in different sectors are always highly intriguing to experts. The fund has released its report for the first half of 2024.
The fund’s profit during this period has reached $138 billion, thereby increasing the total value of the fund to approximately 15 times this amount. The high revenues and profits are primarily due to successful investments and timely buying and selling in the stock market, especially in technology company stocks. Interestingly, in line with recent global trends, the profitability of investments in clean energy industries within the fund’s portfolio has also decreased.
Nonetheless, the future outlook for the fund’s performance is positive. The fund’s managers and policymakers who plan its investments have demonstrated their ability to adapt to various conditions and have shown significant confidence.
The situation is so favorable that a multi-million dollar loss the fund suffered a few months ago due to an administrative error and incorrect recording of figures in the capital turnover files was met with calmness by the officials, as if nothing significant had happened. Studying the fund’s activities will be of interest to concerned Iranian experts.
Iran’s national wealth has been lost in recent years due to sanctions and lack of access to global capital markets and has fallen into the hands of sanction profiteers.