The Oil Fund earned a return on investment of NOK 1,580 billion (4.5%) in 2021, according to the figures presented by the Oil Fund at 10 o’clock on Thursday.
“The good result is primarily due to a very strong development in the stock market throughout the year.
“There was a positive return in all sectors, but especially the investments in technology and finance have done well,” Oil Fund’s manager Nicolai Tangen stated in a press release.
The biggest individual contributors to the fund’s returns were Microsoft Corp (MSFT.O), Alphabet Inc (GOOGL.O), and Apple Inc (AAPL.O).
The Petroleum Fund had a value of NOK 12,340 billion on December 31, 2021.
According to E24, the return is the second-highest ever measured in kroner, surpassed only by the one in 2019, when the Oil Fund earned a return on investment of NOK 1,692 billion.
Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance
Do you have a news tip for Norway Today? We want to hear it. Get in touch at [email protected]
Be the first to comment on "Norway’s Oil Fund earned 1,580 billion kroner last year"