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CNBC/Reuters: UPDATE 2-Norway wealth fund earned a record $180 bln in 2019
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CNBC/Reuters: UPDATE 2-Norway wealth fund earned a record $180 bln in 2019
Business
Date posted: 02.03.2020
Category: Accounting / Financial
OSLO, Feb 27 (Reuters) – Norway’s sovereign wealth fund, the world’s largest, made a 19.9% return on investment last year, earning a record 1.69 trillion Norwegian crowns ($180 billion) as stock markets rallied, it said on Thursday.
The $1.1 trillion fund’s return for the year was stronger than that of its benchmark index, it added.
“2019 has been a very good year for the fund … this is the greatest increase in value in a single year in the fund’s history,” said central bank Governor Oeystein Olsen, who chairs the fund’s board.
Read entire article HERE.
Source: CNBC