World's largest sovereign wealth fund posts $110 billion in first-quarter profit as tech stocks surge

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Norway’s giant sovereign wealth fund on Thursday reported first-quarter profit of 1.21 trillion kroner ($110 billion).

"Our equity investments had a very strong return in the first quarter, particularly driven by the tech sector," Trond Grande, deputy CEO of the fund, said in a statement.

One of the world's largest investors, Norway's sovereign wealth fund was established in the 1990s to invest the surplus revenues of the country's oil and gas sector.

 

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