Norway Oil Fund Made $29 Bln Last Quarter as Stocks Rose
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Norway’s $660 billion sovereign wealth fund, the world’s largest, returned 4.7 percent last quarter as global stock markets recovered after central banks from the U.S. to Japan stepped up efforts to stimulate growth.
The Government Pension Fund Global gained 167 billion kroner ($29.3 billion) in the period, Oslo-based Norges Bank Investment Management said in a statement today. That compares with a decline of 2.2 percent in the second quarter. Equity holdings returned 6.5 percent last quarter, while bonds gained 2.2 percent. Real estate investments returned 2.7 percent.