The world's largest sovereign wealth fund reports a $76 billion quarterly profit due to declining interest rates.
- On Tuesday, Norway's massive sovereign wealth fund reported a third-quarter profit of 835 billion Norwegian kroner ($76.3 billion).
- The stock market's performance was attributed to the fund's success.
- The return on the investment was 4.4%, which was 0.1 percentage points lower than the benchmark index's return.
The Norwegian sovereign wealth fund reported a third-quarter profit of 835 billion Norwegian kroner ($76.3 billion) due to the positive impact of falling interest rates on the stock market.
At the end of September, the Government Pension Fund Global, one of the world's largest investors, reported a value of 18.870 trillion kroner.
The fund's quarterly return was 4.4%, 0.1 percentage points below the benchmark index's return.
Norges Bank Investment Management's deputy CEO, Trond Grande, stated that all investment areas had a positive return due to the broad rise in the stock market caused by falling interest rates.
Norges Bank Investment Management (NBIM) has warned that the world's largest sovereign wealth fund faces more risks to global stocks due to elevated uncertainty and a "completely different geopolitical situation."
The world's largest sovereign wealth fund, established in the 1990s to invest the surplus revenues of Norway's oil and gas sector, has invested in over 8,760 companies across 71 countries globally.
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