Norway’s Sovereign Wealth Fund worth $1 trillion earned $84 billion (~KSh8.5 trillion) in the first quarter of 2019 from investing in the stock market. Managers of the world’s largest sovereign wealth fund, put large sums of money into shares in late 2018 when the equity market was down.
In the first three months of 2019, the fund’s investment in stocks gained 12 per cent, bonds gained 3 per cent, and real estate investments earned 2 per cent. As of the end of March, the sovereign wealth fund held 69 per cent in shares, 28 per cent in bonds, and only 3 per cent in the real estate sector.
The fund’s CEO Yngve Slyngstad described the first quarter of 2019 as an “exceptional” quarter. The three months to March registered the third-best quarterly performance ever since the fund’s establishment.
The wealth fund had its largest stock investment in tech companies such as Apple and Microsoft which collectively recorded an 18 per cent gain in the three months.
