The world's largest sovereign wealth fund, Norges Bank Investment Management, reported on Thursday a negative return of -0.6%, equivalent to a loss of 415 billion kroner ($40 billion) in the first quarter of fiscal 2025.
"The quarter has been impacted by significant market fluctuations. Our equity investments had a negative return, largely driven by the tech sector," the fund's CEO, Nicolai Tangen, said.
The value of the fund's equity investments stood at 12.96 billion kroner, while its market value slipped by 1.21 billion kroner by the end of March. Equities amounted to 70% of the fund in the reported quarter, while fixed income made up 27.7%, unlisted real estate 1.9%, and renewable energy infrastructure comprised 0.4% of the fund.
