Tech stocks help Norway wealth fund to third-quarter gain

OSLO - Norway’s $1.16 trillion sovereign wealth fund, the world’s largest, reported a third-quarter gain of 412 billion crowns on Thursday, fueled partly by rises in U.S. technology stocks during the coronavirus crisis.Tech was among the few industries to benefit from lockdown measures to curb the spread of the pandemic, with more people working and shopping from home.

Founded in 1996, the Norwegian fund holds stakes in around 9,200 companies globally, owning 1.5% of all listed stocks. It also invests in bonds and real estate.The fund said in August it expected more turmoil on financial markets as the world continued to fight COVID-19, with the full impact on the real economy still unclear. [nL8N2FK1KL]

“We do not have a clear view on what that means for certain sectors, whether we are going to travel as much as we did, or if we are going to change our habits,” he said.Despite the turmoil, the fund made a positive return of 4.3% in the third quarter, led by equities, which accounted for 70.7% of its portfolio at the end of September, with a 5.7% return.

COVER BIDEN-BURISMA

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Market-beating vegan ETF founder explains the fund's big tech strategy - Business InsiderThe founder of the world's first vegan ETF explains how her market-beating fund is naturally built to include the pandemic's biggest winners — and why industry titans like Facebook and Uber fit the bill Wasn’t aware Facebook and Uber were vegan
Source: BusinessInsider - 🏆 729. / 51 Read more »

S&P, Dow futures ease on J&J vaccine worries; bank, tech stocks shineFutures tied to the Dow and the S&P 500 dipped on Tuesday as investors waited for more information from Johnson & Johnson after it paused its COVID-19 vaccine trials, although upbeat quarterly reports from some of the big U.S. banks capped losses. Still struggling with becoming A Profitable Forex trader? I can help you out,Make $3000 In Just A Week,No need to pay for Signals,Learn how to invest and generate income all by yourself.Become a successful forex trader today📊💰.DM for more info Markharrisfx Bank and tech stocks shine ,I guess so after Trump and fed dumped trillions on them does like for average American except cause inflation at grocery store, on workers worsening budget crunch under con man trump
Source: Reuters - 🏆 2. / 97 Read more »