In total, the fund returned 4%, or 382 billion kroner ($45.7 billion), in the first quarter. The appreciation of the krone, the best-performing G-10 currency this year, shaved 178 billion kroner off its overall value in the quarter. The fund, which is only allowed to invest in non-Norwegian assets, beat its benchmark by 24 basis points. Its stock portfolio also topped the 4.5% increase in the MSCI World index.
Norway Wealth Fund’s Giant Stock Portfolio Beats Benchmark Index
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