The Supreme Fund of Norway, the largest of its kind in the world, announced record-breaking annual profits. This fund, established in 1990 as a mechanism for accumulating and investing the national wealth of Norway from the sale of oil and gas, achieved a remarkable profit of 123 billion Norwegian crowns ($14.3 billion) in 2021. According to the fund's information, it was its best year in history.
"We see that the fund remains strong. Moreover, it indicates how important a long-term approach to investing is. This plays a key role in ensuring stability in managing public finances in Norway," noted the head of the fund, Nikolai Tangen.
The Sovereign Fund of Norway, whose investments are distributed worldwide, reported that in 2021, income from equity investments amounted to 690 billion crowns, while income from real estate increased by 64 billion crowns. In total, the fund has assets totaling 1.3 trillion dollars.
