"Equity investments gave a very strong return in the first half of the year," Chief Executive Officer Nicolai Tangen said Wednesday. "The result was mainly driven by the technology stocks, due to increased demand for new solutions in artificial intelligence."
Fixed-income investments were down 1%, as was the value of unlisted real estate holdings. Unlisted renewable energy infrastructure dropped 18%, the fund said. The fund has a higher share of short-maturity bonds than the benchmark index, which contributed positively, it said.
Norges Bank Investment Management, which handles Norway's fossil-fuel wealth, saw investments in equities gain 12% in the six months through June, it said in a statement Wednesday.
The fund has traditionally given an annual update on the contents of its portfolio, but will do so twice a year going forward, Tangen said.
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