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Norway state oil fund thrives on 2010 recovery, posts 9.6% return

AFP
March 21, 2011, 8:54 pm TWN

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OSLO--Norway's state pension fund, one of the world's largest sovereign wealth funds, posted a 9.6 percent return last year thanks to the economic recovery, said Norway's central bank, which manages the fund. The fund weighed some 3,077 billion kroner (389.4 billion euros, US$543.8 billion) at the end of 2010.

That was an annual increase of 437 billion kroner, a figure which consists of new oil revenues as well as returns on the existing fund.

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