World’s top sovereign wealth fund earns $46bn in Q1

OSLO: Norway’s $1.3 trillion sovereign wealth fund, the world’s largest, posted a first quarter profit thanks to strong stock markets, it said on Wednesday.

The fund had a 4 percent return on investment, earning 382 billion crowns ($45.7 billion) between January and March, beating its own benchmark index. “The rise of the equity market was to a great extent driven by the finance and energy sectors,” the fund’s deputy CEO Trond Grande said in a statement.