Archive · 17 Aug 2026
Norges Bank CEO Warns Investors of Tougher Times Ahead
The person in charge of a very big money box from Norway told people who invest money to be careful.
This money box is called a sovereign wealth fund, and it has $2.3 trillion in it.
In the first half of the year, the fund made a huge amount of money — almost $185 billion.
That was a record!
A lot of that money came from companies that make computer chips.
But the leader, Nicolai Tangen, said we should not expect such big gains to keep happening.
He thinks tougher times are coming.
He said the world has problems like wars, trade barriers and rising prices.
Even so, he thinks people should keep their money invested for a long time and spread it across many different things.
That way, they can be part of good times and bad times.
Nicolai Tangen, CEO of Norges Bank Investment Management, warned investors not to expect a repeat of the strong market gains of the past six months.
Norway's $2.3 trillion sovereign wealth fund posted a record first-half profit of nearly $185 billion.
The fund returned 12.95% in the first half of the year, boosted heavily by semiconductor stocks such as Samsung, SK Hynix, TSMC, ASML, Intel and Nvidia.
Tangen advised investors to stay invested for the long term and remain well diversified rather than change strategy.
Global markets have stayed resilient despite volatility from the U.S.-Iran war, trade barriers, inflation and geopolitical tensions.
- Who
- Nicolai Tangen, CEO of Norges Bank Investment Management (NBIM)
- What
- Warned investors that tougher times lie ahead and that strong market returns should not be expected to continue
- When
- Following the fund's record first-half results for the year
- Where
- Norway and global financial markets
- Why
- Because of challenges including the U.S.-Iran war, trade barriers, inflation and geopolitical tensions
- Fund
- Norway's sovereign wealth fund, managed by Norges Bank Investment Management (NBIM)
- Fund size
- $2.3 trillion
- First-half profit
- Nearly $185 billion (record)
- First-half return
- 12.95%
- Quarterly equity performance
- Down 2.6% in Q1, up 15.98% in Q2
- Top-performing holdings
- Samsung, SK Hynix, TSMC, ASML, Intel, Nvidia
- Global ownership
- About 1.5% of all companies globally and roughly 3% of listed European companies
- Market gains year to date
- Wall Street up more than 10%, Stoxx 600 up more than 11%, Kospi up more than 50%