Norway Sovereign Wealth Fund Posts Negative Return Of $39.7 Bn In First Quarter

Umer Jamshaid Published April 24, 2025 | 01:30 PM

Oslo, (APP - UrduPoint / Pakistan Point News - 24th Apr, 2025) Norway's sovereign wealth fund, the world's biggest, said Thursday it had seen a negative return of 0.6 percent or 415 billion kroner ($39.7 billion) in the first quarter of 2025.

"The quarter has been impacted by significant market fluctuations. Our equity investments had a negative return, largely driven by the tech sector," Nicolai Tangen, head of the Norwegian sovereign fund, said in a statement.

The fund also said that the Norwegian krone had strengthened against several main currencies during the quarter.

"The Currency movements contributed to a decrease in the fund's value of -879 billion kroner," it said in a statement.

Overall the funds value decreased by 1,215 billion kroner in the quarter reaching a value of 18,526 billion.

As of March 31, 70 percent of the fund was invested in equities, 27.7 percent in fixed income, 1.9 percent in unlisted real estate, and 0.4 percent in unlisted renewable energy infrastructure, the fund said.

The fund, which invests the Norwegian state's oil and gas revenues, is intended to finance Norway's generous welfare state when its oil and gas deposits run dry.

It has holdings in around 9,000 companies around the world, representing 1.5 percent of the world's total market capitalisation.