Norwegian SWF returns 10.9% in 2020
Holdings in US tech companies major factor in rebound despite pandemic, Tangen says
Norway’s Government Pension Fund Global recorded a return of 10.9% in 2020, in spite of the market turbulence unleashed by the pandemic.
“The market fell sharply in the first quarter, before recovering quickly in the second quarter,” said Nicolai Tangen, chairman of parent Norges Bank Investment Management. “The whole year has been characterised by large fluctuations in the market, and large differences between different sectors,” he said in an official statement.
The fund’s equity holdings in
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