Norway wealth fund's giant stock portfolio beats benchmark index

Norway's sovereign wealth fund, the world’s biggest, returned NOK 382bn (USD 45.7bn) in the first quarter after gains in its stock portfolio made up for bond losses.
Chief Executive Nicolai Tangen, a former hedge-fund manager who's been running Norway's giant sovereign investment vehicle since September, has started relying more on external asset managers to help squeeze out higher returns. | Photo: Tony Colli/PR
Chief Executive Nicolai Tangen, a former hedge-fund manager who's been running Norway's giant sovereign investment vehicle since September, has started relying more on external asset managers to help squeeze out higher returns. | Photo: Tony Colli/PR
By Lars Erik Taraldsen and Ott Ummelas / BLOOMBERG

The Oslo-based fund had an overall return of 4 percent, 24 basis points more than the benchmark set by the country's finance ministry, it said in a statement on Wednesday.

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