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Oil fund remains optimistic about tech stocks

Despite the tech sector having provided the the oil fund’s biggest losses, there are reasons to be optimistic, Norway’s sovereign wealth fund believes. 
Norway's Government Pension Fund Global CEO Nicolai Tangen presents the results for the fund in 2022, at a press conference in Oslo, Norway, on January 31, 2023. - Norways sovereign wealth fund, the worlds largest, said it recorded a loss of NOK 1, 637bn in 2022, citing volatile markets. | Photo: Heiko Junge/AFP/Ritzau Scanpix
Norway's Government Pension Fund Global CEO Nicolai Tangen presents the results for the fund in 2022, at a press conference in Oslo, Norway, on January 31, 2023. - Norways sovereign wealth fund, the worlds largest, said it recorded a loss of NOK 1, 637bn in 2022, citing volatile markets. | Photo: Heiko Junge/AFP/Ritzau Scanpix
by REETA ILONA PAAKKINEN

Even though tech stocks caused the largest drop in the equity portfolio of Norway’s Government Pension Fund Global, its manager, Norges Bank Investment Management (NBIM), believes the tech sector has potential to perform better going ahead. 

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