Norway’s Oil Fund earned 1,580 billion kroner last year

Johan Sverdrup oil fieldPhoto: Carina Johansen / NTB
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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

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