Norway's sovereign wealth fund, the world's largest, made a profit of about 1.5 trillion crowns, equivalent to $143 billion, in the first half of this year, supported by strong stock markets and a weak krona.
The fund's equity investments witnessed a strong performance in the first half of 2023 after weakening in 2022. Return on equity investments was 13.7 percent during the period. Tech companies had the highest first-half return at 38.6 percent after a weak year in 2022.
The sector benefited from strong demand for new AI solutions from major internet and software companies and semiconductor suppliers. However, the fund's total return was 0.23 percentage points lower than the return on the benchmark index.
Source (CNBC Arabic Website, Edited)
