Norway’s colossal $1.8 trillion sovereign wealth fund, one of the world’s largest, posted a robust 13% return in 2024, translating to a staggering $222 billion gain. This impressive performance was largely fueled by the booming US technology sector.

The oil fund, as it is known at home, is the world’s biggest single owner of public equities, with shares in almost 9,000 companies globally. It was established in the 1990s to invest Norway’s petroleum wealth and is largely an index-tracker, working according to a strict mandate from the country’s Finance Ministry.

The chief executive of Norway's $1.8 trillion sovereign wealth fund, one of the world's largest investors, said on Thursday that inflationary pressure in the United States posed a risk to financial markets this year.