Biggest Wealth Fund Rose $44 Billion as Tech Stocks Soared
- Figures are Norwegian state fund’s first under new CEO Tangen
- Tech surge drove quarter’s snap-back from first-half slump
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Norway’s sovereign wealth fund rose 412 billion kroner ($44 billion) in the third quarter as global stock markets continued to rally.
The $1.2 trillion fund’s overall return was 4.3%, which was 3 basis points less than the benchmark set by the nation’s finance ministry. The positive run followed a negative return of 3.4% in the first half.