May 3, 2019 / 8:03 AM / 23 days ago

Norway's wealth fund made record returns in Q1

OSLO, May 3 (Reuters) - Norway’s $1.1 trillion sovereign wealth fund, the world’s largest, made record returns on investment in the first quarter amid a surge in tech stocks, it said on Friday.

The fund earned 738 billion Norwegian crowns ($84.15 billion) for the January-March period, the highest amount it has ever recorded.

When measured in terms of the fund’s international currency basket, the return for the quarter stood at 9.1 percent, beating its benchmark, it added.

The fund invests Norway’s revenues from oil and gas production in foreign stocks, bonds and real estate. ($1 = 8.7698 Norwegian crowns) (Reporting by Gwladys Fouche, editing by Terje Solsvik)

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