Norway’s Pension Fund recorded a record profit of $222 billion
Norway’s Government Pension Fund, the world’s largest sovereign wealth fund with assets totaling $1.8 trillion, reported a record profit of $222 billion for the past year, reports a Kazinform News Agency correspondent.

The largest gains came from technology stocks, including shares of Nvidia, Apple, Amazon, Alphabet, and Microsoft.
“The fund achieved very strong returns in 2024 due to an exceptionally strong stock market. U.S. technology stocks performed particularly well,” commented NBIM CEO Nicolai Tangen.
According to the report from the Norwegian regulator’s division, the technology sector delivered the best equity returns, generating 1.17 trillion Norwegian kroner. The most profitable investments were in shares of NVIDIA, Apple, Amazon, Alphabet, and Microsoft. Tangen cautioned that such favorable market conditions “will not last forever.”
According to GPFG data, the fund’s return on equity investments was 18%, while fixed-income securities yielded 1%, and investments in unlisted real estate resulted in a 1% loss. Meanwhile, the fund’s investments in unlisted renewable energy infrastructure suffered a 10% loss. The fund’s overall return was 45 basis points lower than its benchmark index.
As stated in the report, 71.4% of the fund’s assets were allocated to equities, 26.6% to fixed-income securities, 1.8% to unlisted real estate, and 0.1% to unlisted renewable energy infrastructure.
Norway’s Government Pension Fund is divided into two separate sovereign wealth funds: the Government Pension Fund Global (GPFG) and the Government Pension Fund Norway. The former owns about 1.5% of all publicly traded stocks worldwide, including shares in Apple, Microsoft, and Samsung. This makes the fund the world’s largest single investor.
Earlier, it was reported that Prime Minister Olzhas Bektenov held a session dedicated to the implementation of the President’s directives set during the Government’s extended meeting on January 28. The government must prioritize ensuring economic growth aimed at improving people’s living standards.