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Norway wealth fund earns second-highest return in 2021
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Norway wealth fund earns second-highest return in 2021
Business
Date posted: 01.02.2022
Category: Business News
OSLO, Jan 27 (Reuters) – Norway’s sovereign wealth fund, the world’s largest, earned a return on investment of 1.58 trillion Norwegian crowns ($177 billion) last year, the second highest on record, with the biggest boost coming from tech stocks, it said on Thursday.
The $1.3 trillion fund’s return on investment stood at 14.5% for the year, which was 0.74 percentage point higher than the return on the fund’s benchmark index.
“The good results are mainly due to very strong developments in the equity market throughout the year,” Chief Executive Nicolai Tangen said in a statement.
Source: Reuters