The Government Pension Fund Global, the largest sovereign wealth fund in the world, reported its first-quarter profit of 1.21 trillion kroner ($109.9 billion) at the backdrop of Norway’s central bank, Norges Bank in Oslo, Norway. Despite weak results from real estate investments, the fund’s overall return was only slightly lower than the benchmark index.
Trond Grande, the deputy CEO of the fund, highlighted the exceptional performance of their equity investments in the tech sector during the first quarter. At the end of March, the fund had a value of 17.7 trillion kroner and has invested in over 8,800 companies in more than 70 countries worldwide.
While the fund described the relative return on equity and fixed income investments as positive, it noted that weak results from real estate investments led to an overall negative result. The fund reported a 9.1% return on equity investments, a -0.4% yield on fixed income investments, and a -0.5% return on unlisted real estate investments. Additionally, the return on unlisted renewable energy infrastructure was -11.4%.
Despite these setbacks
