OSLO, April 21 (Reuters) – Norway’s sovereign wealth fund, the world’s largest, posted a profit of 893 billion Norwegian kroner (76.5 billion euros) in the first quarter.
“The rise in equity markets was largely driven by the technology and consumer discretionary sectors,” the fund’s deputy managing director, Trond Grande, said in a statement on Friday.
The fund manages 1.4 trillion dollars (1.280 billion euros) in assets and derives its income from the exploitation of oil and gas reserves in Norway.
It received 217 billion crowns in new government funds in the January-March period.
As of March 31, approximately 70% of the fund’s assets were invested in equities, 27.3% in the bond market, 2.4% in unlisted real estate assets and 0.1% in unlisted renewable energy infrastructure. (Terje Solsvik, French version Laetitia Volga, edited by Bertrand Boucey)
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