Biggest Wealth Fund Returns $53 Billion After Trump Rally
- Holdings in emerging markets rose to $92 billion in 2016
- Fund now invested in 77 countries, added Argentina last year
Oslo skyline
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Norway’s sovereign wealth fund, the world’s biggest, gained 447 billion kroner ($53 billion) last year after stocks rallied following the election of Donald Trump and as the investor plowed deeper into emerging and frontier markets.
The $900 billion Government Pension Fund Global returned 6.9 percent in 2016, after rising 2.7 percent the previous year, the Oslo-based investor said on Tuesday. Stocks gained 8.7 percent, bonds rose 4.3 percent, and real estate investment grew 0.8 percent.