The Strategist

Norway's sovereign wealth fund earns $247 billion in income in 2025



01/30/2026 - 02:12



The Government Pension Fund of Norway, also referred to as the Oil Fund, which is the world's largest sovereign wealth fund, made a profit of NOK 2.36 trillion, equivalent to approximately $247.4 billion, in 2025.



Kjell Joran Hansen
Kjell Joran Hansen
The financial reports of the fund indicate that the return on investments amounted to 15.1%. 

The fund achieved a return of 19.3% from equities, 5.4% from fixed income, 4.4% from real estate, and 18.1% from renewable energy. 

"The fund performed very well in 2025," said Nicolai Tangen, CEO of Norges Bank Investment Management. "Stocks in technology, finance, and mining sectors contributed significantly to the overall performance." 

At the end of last year, the fund had assets under management totaling NOK 21.268 trillion.  The portfolio is composed of 71.3% equities, 26.5% bonds, 1.7% real estate, and 0.4% renewable energy. 

The Government Pension Fund of Norway was created in the year 1990.  Norges Bank Investment Management, which is responsible for managing the fund, is a part of the Norwegian central bank.  The fund owns about 1.5% of all equity shares worldwide.

source: reuters.com