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Norway Oil Fund Posts Second-Best Year on Stock Market Rally

Norway’s sovereign wealth fund, the world’s largest, rose 447 billion kroner ($79 billion) last year as central bank stimulus measures boosted global stock markets.

The Government Pension Fund Global returned 13.4 percent in 2012, after falling 2.5 percent the year before, the Oslo-based investor said today. The annual return was the second best in the $713 billion fund’s history. Stocks returned 18.1 percent, while its bond investments climbed 6.7 percent. Real estate investments returned 5.8 percent.