Bumper profits for Norway's giant wealth fund led by a strong performance by tech companies
11 months, 1 week ago

Bumper profits for Norway's giant wealth fund led by a strong performance by tech companies

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Norway’s oil fund reported the largest annual return in its history Tuesday, a performance led by U.S. technology companies and Danish pharmaceutical company Novo Nordisk, which makes the diabetes-turned-weight loss drug Ozempic. Norway’s Government Pension Fund Global, the world’s largest sovereign wealth fund, said it also benefited in 2023 from market excitement over the rapid adoption of artificial intelligence technology such as ChatGPT. Oil Fund manager Nicolai Tangen reported that despite “high inflation and geopolitical turmoil,” the fund's value ballooned 16% in the year to 15,765 billion kroner. The Government Pension Fund Global, known commonly as the Oil Fund, invests Norway's profits from oil and gas, and owns around 1.5% of all the companies listed globally.

Fund Norway  strong  technology  sign  wealth  profits  giant  fund  companies  norways  led  nordisk  oil  free  emails  tech  breaking  performance  largest

History of this topic

Norway $1.8 Trillion Fund’s CEO Sees Rare Political Unity as Key
1 month, 2 weeks ago

Norway $1.8 Trillion Fund’s CEO Sees Rare Political Unity as Key

Live Mint  

-- Norway’s $1.8 trillion sovereign wealth fund benefits from a rare consensus among its political masters, according to Chief Executive Officer Nicolai Tangen, unlike other countries which are exploring such an option. “We have a very constant investment philosophy and I think that’s really one of the success factors behind the fund,” Tangen said, speaking in a Bloomberg TV interview. …

Norway’s $1.7 Trillion Fund Trims Meta, Novo and ASML Stakes
4 months, 3 weeks ago

Norway’s $1.7 Trillion Fund Trims Meta, Novo and ASML Stakes

Live Mint  

-- Norway’s $1.7 trillion sovereign wealth fund pared its stakes in Meta Platforms Inc., Novo Nordisk A/S and ASML Holding NV — all among its top 10 holdings — during the first half of the year. Norges Bank Investment Management cut its Meta ownership to 1.18% — worth about $15.1 billion as of midyear — from 1.22% at the end …

Norwegian wealth fund to vote against Elon Musk's Tesla pay package
7 months ago

Norwegian wealth fund to vote against Elon Musk's Tesla pay package

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

Norwegian wealth fund to vote against Elon Musk’s Tesla pay package
7 months ago

Norwegian wealth fund to vote against Elon Musk’s Tesla pay package

Associated Press  

Norway’s sovereign wealth fund operated by Norges Bank Investment Management said Saturday it will vote against Elon Musk’s hefty CEO compensation package during Tesla’s annual meeting on Thursday. “While we appreciate the significant value generated under Mr. Musk’s leadership since the grant date in 2018, we remain concerned about the total size of the award, the structure given performance triggers, …

Saudi Arabia’s investment fund has been set an impossible task
7 months, 3 weeks ago

Saudi Arabia’s investment fund has been set an impossible task

Live Mint  

About a decade ago, a flashy, deep-pocketed investor made an appearance. Saudi Arabia’s Public Investment Fund had a mandate to go big, and was ready to: it picked up a $3.5bn stake in Uber, placed $45bn in the world’s largest technology-investment fund, SoftBank’s Vision Fund, and provided half the capital for a $40bn infrastructure fund run by Blackstone, a private-equity …

UPDATE 1-Norway's sovereign wealth fund to vote against Apple management's pay plan
2 years, 10 months ago

UPDATE 1-Norway's sovereign wealth fund to vote against Apple management's pay plan

The Hindu  

Norway's $1.3 trillion sovereign wealth fund, the world's largest, will vote against ratification of tech giant Apple Inc's management remuneration plan after an advisory firm urged investors to act, the fund's manager said on Sunday. The Norwegian fund owns 1.03% of Apple's shares, making it the company's eighth largest shareholder, according to Refinitiv data. Chief Executive Tim Cook's pay in …

Norway wealth fund excludes firms linked to West Bank settlements
3 years, 7 months ago

Norway wealth fund excludes firms linked to West Bank settlements

Al Jazeera  

Norway’s $1.3 trillion sovereign wealth fund is divesting from two firms over their activities associated with Israeli settlements in the West Bank ‘built in violation of international law’. Norway’s $1.3 trillion sovereign wealth fund excluded Shapir Engineering and Industry Ltd and Mivne Real Estate KD Ltd. for their activities associated with Israeli settlements on the West Bank. The world’s biggest …

Oil helped Norway build up a $1 trillion fund. Now it’s dumping oil stocks
5 years, 10 months ago

Oil helped Norway build up a $1 trillion fund. Now it’s dumping oil stocks

CNN  

London CNN Business — Norway’s huge sovereign wealth fund is dumping oil and gas stocks. The Norwegian government announced Friday that the fund, which is worth about $1 trillion, will gradually phase out its investments in exploration and production companies including Chesapeake Energy and China’s CNOOC. Yet the announcement Friday means the fund will no longer invest in firms that …

Discover Related