Norway's state pension fund saw a global return of 14.5%, or 1.58 trillion kroner (US$176 billion) in 2021, according to the fund manager, Norges Bank Investment Management (NBIM) on Thursday.
Last year saw the second-highest return measured in kroner in a single year in the fund鈥檚 history, following the highest earnings made in 2019 at $180 billion.
"The good results are mainly due to very strong developments in the equity market throughout the year. There was good return in all sectors, but the investments in technology and financials performed particularly well," said Nicolai Tangen, CEO of Norges Bank Investment Management.
Equity investments returned 20.8% and unlisted real estate investments returned 13.6%. The fund鈥檚 total return was 0.74 percentage points higher than the return on the benchmark index.
The fund totaled 12.3 trillion kroner as of Dec. 31, 2021, of which 72% was invested in equity, 2.5% in unlisted real estate, 25.4% in fixed income and 0.1% in unlisted renewable energy infrastructure.
1 krone equals US$0.11
By Murat Temizer
Anadolu Agency
energy@aa.com.tr