Norwegian oil and Gas Fund received mega profits again
By Alimat Aliyeva
The world's largest Norwegian sovereign wealth fund with assets of $1.7 trillion made a profit of $138 billion in the first half of this year. This is partly due to rising stock prices, Azernews reports.
The profit is mainly driven by shares of technology companies due to the demand for new technologies related to artificial intelligence. In the first six months of the year, the fund achieved a yield of 8.6 percent.
The Norwegian sovereign Wealth Fund invests the country's excess oil and gas revenues to boost profits. This makes him one of the largest investors in the world. The Fund owns an average of 1.5 percent of all global stocks.
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