The world’s greatest sovereign wealth fund, Norway’s $2.3-trillion Authorities Pension Fund International, posted a record-high revenue of $185 billion for the primary half of 2026, as Asian expertise shares boosted its returns and revenue on the portfolio.
Norway’s Authorities Pension Fund International (GPFG), which is often known as ‘Norway’s oil fund’ as a result of it was created with oil and fuel revenues, is a shareholder in lots of massive corporations on the earth, with greater than half of the worth of its fairness investments within the U.S. market. The Norwegian fund was created within the Nineteen Nineties, and in the present day it holds, on common, 1.5% of all listed corporations on the earth.
For the primary half of the 12 months, the fund posted a file revenue on the portfolio earlier than international trade changes at 1.753 billion Norwegian crowns, or $185 billion, the fund’s supervisor, Norges Financial institution Funding Administration (NBIM), stated on Wednesday.
That is greater than double in comparison with the revenue for the primary half of final 12 months, amid a rally in expertise shares.
“The result’s pushed by good returns within the fairness market, significantly from Asian expertise shares,” said Nicolai Tangen, CEO of Norges Financial institution Funding Administration.
The investments within the Authorities Pension Fund International returned a record-high 9.4% in Norwegian crowns within the first half of 2026, up by 0.22 share factors in comparison with the return on the benchmark index. The fund’s worth was 22.683 trillion crowns, or $2.39 trillion, as of June 30, up by 1.416 trillion crowns, or $149 billion, from the identical time a 12 months earlier.
Fairness investments accounted for 72.1% of the fund’s worth on the finish of the primary half of 2026, and fixed-income investments for 25.8%. Nvidia, Apple, and Microsoft are essentially the most beneficial investments of the Norwegian wealth fund.
The fund’s fairness investments returned 13.0% within the first half of 2026, with telecommunications, expertise, and vitality delivering the strongest returns, NBIM stated.
Earlier this month, NBIM informed the U.S. Securities and Alternate Fee (SEC) that it doesn’t support its proposal to scrap outright present necessities for climate-related dangers and disclosures.
By Michael Kern for Oilprice.com
