Tech Stocks Lead Norway’s Pension Giant to 6.3% Return in Q1
Equities help spur the $1.6 trillion Government Pension Fund Global’s nearly $110 billion investment gain during the quarter.
Equities help spur the $1.6 trillion Government Pension Fund Global’s nearly $110 billion investment gain during the quarter.
A growing number of portfolio companies held by Norway’s $1.5 trillion sovereign wealth fund are adopting net-zero targets.
Rallying equities helped the pension giant return 16.1% during the year, but it fell 18 basis points shy of its benchmark.
The institutional investors lost a combined total of nearly $162 million from investments in the bank’s holding company, SVB Financial Group.
The $1.44 trillion Government Pension Fund Global has been investing in office real estate in the area since 2013.
The $1.3 trillion Government Pension Fund Global’s investment portfolio lost 2.1%—$33.6 billion—during the quarter.
The pension giant also found that venture capital and growth equity have underperformed public equities.
Despite losses, the 300 largest funds’ share of global pension assets rose to 43% in 2021.
Following a weak 2022, the Government Pension Fund Global’s market value rose to $1.443 trillion at the end of June.
The pension giant also excluded two firms for ‘serious violations of individuals’ rights’ in Myanmar.
CEO Nicolai Tangen acknowledged that Norges Bank Investment Management ‘lost a considerable sum’ from the Silicon Valley Bank failure.
The $1.3 trillion pension giant is currently prohibited from investing in the asset class, but that may change.