Boosted by tech stocks, Norway wealth fund earns $123 billion in 2020

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Norway's sovereign wealth fund gets a boost from United States tech stocks, with Apple, Amazon, Microsoft, and Tesla contributing the most to its absolute return.

, the world's largest, earned a return on investment of 1.07 trillion Norwegian crowns in 2020, the second highest in its 25-year history, it said on Thursday, January 28.

"However, the high return also reminds us that the market value of the fund might vary a lot going forward," he said. The fund's results were boosted by United States tech stocks, with Apple, Amazon, Microsoft, and Tesla contributing the most to its absolute return, presentation material showed.

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