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.

Norway’s $1.8 trillion sovereign wealth fund returned 13%, or $222 billion, last year, driven by a booming US technology sector.

Investors willing to go against the market in the coming months should consider selling US technology stocks and private credit, while boosting holdings in China, according to the head of Norway’s $1.